18 EDSM Companies Submit LoI To Set Up Operations In Karnataka

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Some of the companies who have showed their interest include Proxelera Pvt Ltd, Wuerth Electronic India Pvt Ltd, Virtulive Technologies Pvt Ltd, Gopalan Aerospace Pvt Ltd

18 electronics, system, design and manufacturing (ESDM) corporations have submitted their Letter of Intent (LoI) to set up operations in Karnataka.

This follows the Karnataka Digital Economy Mission’s (KDEM) efforts to underpin the growth of the industry in the state in light of the Centre’s recently announced semiconductor policy to promote the manufacturing of semiconductor chips in the country.

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Some of the companies who have showed their interest include Proxelera Pvt Ltd, Wuerth Electronic India Pvt Ltd, Virtulive Technologies Pvt Ltd, Gopalan Aerospace Pvt Ltd, Teccheren Batteries, and Kaynes Technology, Rapture Innovation Labs, Physics Motors, Astr Defence, nanoPix Integrated Solutions Pvt Ltd, and SLN Technologies.

Over 50 top global and Indian ESDM leaders, bureaucrats, and officials from KDEM, India Electronics & Semiconductor Association (IESA) along with the Dept of Electronics, IT BT S&T, and Industries department with Lahari allied at an event in Bengaluru to share their views on fortifying Karnataka’s position in the ESDM space.

Dr. E V Ramana Reddy, Additional Chief Secretary, Department of Electronics, Information Technology (IT) & Bio-Technology (BT)and Science & Technology, Government of Karnataka said, “Over the last few years, the demand for superior technology products has seen significant growth, encouraging the need to strengthen the ESDM sector. Karnataka has always been at the fore of the technology space, contributing significantly to the country’s digital growth. This has been the basis of the KESDM Policy 2017-22 to develop Karnataka into a global ESDM hub and an epicentre for innovation.

“These Letters of Intent and the industry-wide acceptance of the ESDM initiative demonstrates the trust that global industry leaders have in Karnataka’s commitment to be a leader in the IT and ESDM space.”

The event also laid emphasis on ESDM focus clusters, like Mysuru and Hubli, to leverage the existing talent and ecosystem while reinforcing KDEM’s role of skill development for the sector, thereby championing growth beyond Bengaluru.

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