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Taiwanese electronics companies to invest $500 million to make Bengaluru hub

TEEMA

Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) on Wednesday signed an MoU with the Karnataka Industrial Areas Development Board (KIADB) to set up the Taiwan Electronic Manufacturing Cluster (TEMC) — an electronic manufacturing facility — in the Devanahalli IT Park near here. The facility will come up with an investment of $500 million.

The MoU was signed between the two parties after an interaction between Industries Minister R V Deshpande and the Taiwanese delegation, led by TEEMA executive director Francis Tsai. TEEMA was established in 1948 with 3,039 companies as members, having a capital of $52,639.5 million. The Association has proposed to set up a training and incubation centre in the cluster, providing employment to more than 20,000 to 30,000 people once the TEMC is fully operational. Chief Secretary Kaushik Mukherjee said, “It is a historic moment and I am glad that finally an MoU is being signed with Taiwan.RV-Teema

Out of every ounce of semi-conductor produced in the world, 36 per cent is contributed by Taiwan… This clearly shows the potential that TEMC will have once the set-up is complete.” Bengaluru is just next to Silicon Valley, USA, and is growing at a very fast pace. If predictions are to be believed, in another 25-30 months, the city will overtake Silicon Valley in terms of IT products, Mukherjee added. The 22-member TEEMA high-profile delegation agreed to set up TEMC in Devanahalli IT Park in 100 acres in the first phase with proposed future expansion in another 800-1,000 acre industrial park near Bengaluru. Tsai said, “The delegation from our country was here to see the prospects of setting up our industries here.

India is a growing market and hence all the countries are eyeing it for investment. We are planning to invest in Karnataka over a period of time as the site proposed by the government here is ready for starting our industrial constructions.”

Source : Indian Express, 13th August, 2015



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