December 2021 \ Business & Investment \ BUSINESS AND GOVERNANCE
HCL, others to invest Rs 5,000 crore in Karnataka

  • Mr C.N. Ashwathnarayan

C.N. Ashwathnarayan, the Karnataka Minister for Higher Education, Information Technology and Biotechnology has said HCL, Applied Material, Rakon and Chint have come forward to invest more than Rs 5,000 crore in the state.

Addressing the media at the Bengaluru Tech Summit 2021 in November, he said this investment will entail the generation of more than 15,000 jobs in the state.

Taking a cue from the attractive electronic systems design and manufacturing policy announced by the government, he said, adding that IFB and Tejas have shown interest in setting up their manufacturing facility in the state. Besides, Google Tag Manager has conveyed its expression of interest to set up a unit in Chamarajanagar.

Of the companies that have shown interest in investment, Mr Ashwathnarayan 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 semiconductors, electronics, solar cells, washing machines and motors for air conditioners will be possible.


Tags: HCL