Tech firms Plan ₹5k cr invt in Karnataka For Solar Cells, Other Electronics

Budget reactions

Prominent tech companies such as HCL have come forward to invest over Rs 5,000 crore in Karnataka, a State Minister said on Thursday.

Addressing reporters at the Bengaluru Tech Summit 2021, the Minister for IT-BT and Higher Education, Dr C N Ashwath Narayan, said HCL, Applied Material, Rakon, and Chint have come forward to invest more than Rs 5,000 crore and this would generate over 15,000 jobs in Karnataka.

He said taking a cue from the attractive electronic systems design and manufacturing policy announced by the government, IFB and Tejas have evinced interest in setting up their manufacturing facility.

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IFB Industries Limited originally known as Indian Fine Blanks Limited started their operations in India during 1974 in collaboration with Hienrich Schmid AG of Switzerland. The product range includes Fine Blanked components, tools and related machine tools like Straighteners, Decoilers, Strip loaders and others.

Tejas Networks designs, develops and sells high-performance networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. The company’s products utilise programmable, software-defined hardware architecture with a common software code-base that delivers “seamless upgrades of new features and technology standards.”

Tech firm HCL already has a significant presence in Bengaluru. U.S.-based Applied Materials Inc. supplies equipment, software and offers services for the manufacture of semiconductor (integrated circuit) chips for electronics, flat panel displays for computers, smartphones, televisions, and solar products.

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Rakon India is an electronics manufacturer while Noida-based Chint Electric makes isolator switches. Apart from these four companies, GTM has also conveyed its expression of interest to set up a unit in Chamarajanagara, the Minister said.

Of the companies that have shown interest in investment, Narayan said some have been provided with the land while facilities are expected to be extended to the remaining companies.

The Minister said as a result of the investment, facilities to manufacture semi-conductors, electronics, solar cells, washing machines, and motors for air-conditioners would be possible. This is likely to contribute towards the development of green technology in the state

The “Karnataka Renewable Energy Policy 2021-26” draft, released by Karnataka Renewable Energy Development Limited (KREDL) earlier this year, aims to facilitate 20 GW of RE projects in the state.