Karnataka IT Minister: 10000 Indirect Employment Openings At A Semiconductor Fabrication: According to CN Ashwath Narayan, the IT minister for Karnataka, the central government will determine by the end of February which business would construct and which state will host a semiconductor production unit.
He was addressing on Tuesday at the Bengaluru Tech Summit ceremony. During the press conference, Narayan made mention of how rapidly Karnataka had formalised an MOU with the ISMC consortium for a $3 billion manufacturing factory in Mysuru.
ISMC is a partnership between Israel’s Tower Semiconductor and Abu Dhabi’s Next Orbit Ventures. Reliance Industries, a multifaceted conglomerate, and HCLTech, a supplier of IT services, were reportedly considering purchasing a stake in ISMC on Tuesday, according to ET. In the city’s Kochanahalli industrial region, ISMC has requested 150 acres of land for the project, which is anticipated to generate roughly 1,500 direct employments.
The state government has stated that it would also build an auxiliary semiconductor ecosystem and generate 10,000 indirect job opportunities. “While many states took months, we were able to finalise our partner, incentives, and commitment with Tower Semiconductor in one week. Which business and which state would house the semiconductor production facility will be revealed by February 2023.