Karnataka govt inks MoU with Israel-based firm to set up semiconductor fab plant

“Karnataka is already a pioneer in the IT, BT and R&D sectors. The MoU with ISMC would make Karnataka the place to look forward to in semiconductor technology,” Bommai said in his address after the agreement was signed.

“Karnataka has signed this major MoU when many other states are competing to draw investments in the semiconductor fab sector. Karnataka government understands that it is not just the concessions or incentives, it is the conducive ecosystem that is needed to draw the investors. The state has the best infrastructure and skilled human resources,” Bommai said.

The chief minister further said, “The Union government under the able leadership of Prime Minister Narendra Modi has launched the Semiconductor Mission and it has spurred Karnataka to lead the march in this sector.”

The project will be implemented over a period of seven years and generate 1,500 jobs, sources in the government said.

Curated For You

‘Politics trumps economics:’ Jaishankar flags global risks in veiled reference to US

Israel PM Netanyahu seeks presidential pardon in years long corruption trial

Rajasthan minister asks schools to celebrate Babri Masjid demolition day as ‘Shaurya Diwas’, later withdraws order citing exams