The government of Karnataka has announced that it has signed an agreement with the Taiwan Electrical and Electronic Manufacturers Association (TEEMA). The aim is to create a Taiwanese electronic manufacturing cluster near the airport in the city.
According to the reports, the investment is expected to be US$ 500 million and the investments will begin in the next six to nine months. TEEMA represents a little over 3000 companies.
Francis Tsa, chairman, India Economic and Trade Committee wants to start operations in a short lead time and he finds the state absolutely ready and developed for starting a factory.
According to Kaushik Mukherjee, the state government’s chief secretary, Karnataka had emerged as a preferred investment destination for information technology firms.