BENGALURU, 5 DEC 

The Karnataka government on Friday signed an MoU with the Allegiance International Co Ltd of Taiwan to establish an Indo-Taiwan Industrial Technology Innovation Park (ITIP) in the State, with an investment of around Rs 1,000 crore.

The MoU was signed by Rahul Sharanappa Sankanur, the Director, Department of Electronics, IT, BT and Lawrence Chen, VP, Allegiance Group in the presence of Chief Minister Siddaramaiah, the Minister for Electronics, IT & BT, Priyank Kharge, and senior officials.

The ITIP project will be executed by the Allegiance Group, creating around 800 direct jobs over five years, the IT & BT Minister's office said.

The ITIP will serve as a hub for Taiwanese companies in electronics and semiconductors, fostering advanced manufacturing, R&D, and innovation. 

The MoU’s highlights are establishment of a world-class industrial park to house Taiwanese firms in electronics and semiconductor sectors; development of a robust supply chain ecosystem for components, PCBs, and chip design; creation of high-value jobs and skill development programmes in collaboration with academic institutions; and promotion of technology transfer and global best practices.