The Israeli company ISMC Analog Fab Pvt. Ltd.’s ₹22,900 crore (US$3 billion) investment to build a state-of-the-art semiconductor facility in Mysuru will prove to be a major driver of the city’s knowledge-based industrial economy
The Israeli company ISMC Analog Fab Pvt. Ltd.’s ₹22,900 crore (US$3 billion) investment to build a state-of-the-art semiconductor facility in Mysuru will prove to be a major driver of the city’s knowledge-based industrial economy
The Israeli company ISMC Analog Fab Pvt. Ltd.’s ₹22,900 crore (US$3 billion) investment in Mysuru to build a state-of-the-art semiconductor factory is expected to become a major driver of the city’s knowledge-based industrial economy.
The ISMC will fully implement the project over a period of seven years, with a potential to create 1,500 high-tech jobs, alongside over 10,000 indirect and part-time jobs.
said Sanjeev K. Gupta, CEO of Karnataka Digital Economy Mission Peppystores This availability of natural water and energy resources and the talented or skilled workforce that Mysuru produced were key factors that tipped the scales in the city’s favour.
Observers said the decision to bring investment and the semiconductor plant to Mysuru is also one of the biggest achievements of Beyond Bengaluru, an initiative by the Karnataka government to bring industries beyond the capital, which is saturated and leading to unilateral development . With this, the government has ensured that future technology goes beyond Bengaluru and there is even development, they added.
Mr Gupta said the government is wholeheartedly pushing the Beyond Bengaluru concept to ensure Karnataka’s steady growth in which every part of the state should develop, and Mysuru has emerged as an important place in this mission. The Beyond Bengaluru concept envisions nurturing emerging technology clusters in the rest of Karnataka, and this is the initiative’s biggest achievement to date.
Higher Education Minister CN Ashwath Narayan expressed his delight at the development on Twitter, saying, “I am pleased to say that the first cutting-edge semiconductor plan will emerge in #NammaMysuru. The place that became the best governed state in the world under Sri Nalvadi Krishnaraja Wadiyar Avaru. His administrative acumen is the guiding star for our government.”
Mr Ashwanth Narayan recalled the contribution of Nalwadi Krishnaraja Wadiyar in a series of tweets, saying he was grateful to Prime Minister Narendra Modi for his vision and Chief Minister Basavaraj Bommai for his support in bringing this fabulous facility to Mysuru. It is the place that played a significant role in the industrial revolution in our country, he added.
