BENGALURU: Karnataka is set to receive a major boost to its electronics and semiconductor ambitions with Taiwan-based Allegiance Group signing an MoU to establish an India–Taiwan Industrial Technology Innovation Park (ITIP) in the state.

The project, involving an investment of Rs 1,000 crore, is expected to generate nearly 800 jobs over the next five years. The agreement was formalised between the Department of Electronics, IT, BT and S&T and The Allegiance International Company Limited of Taiwan in the presence of Chief Minister Siddaramaiah, IT/BT Minister Priyank Kharge and others.

The ITIP will be developed as a dedicated hub for Taiwanese firms engaged in electronics manufacturing, semiconductors, research and development and advanced technology innovation. Officials said the park will strengthen Karnataka’s position as India’s leading Electronics System Design and Manufacturing hub while booting semiconductor ecosystem.

The project includes creating a strong supply chain for components, printed circuit boards and chip design, along with collaboration-based skill development programmes involving academic institutions.

Calling the tie-up a “significant step” towards realising states vision of becoming a global hub, the CM said that the park would bring cutting-edge manufacturing and fresh opportunities for local youth. Kharge said, “This partnership will accelerate our efforts to build a robust electronics and semiconductor ecosystem. We are committed to creating a level playing field and ensuring that Karnataka remains the preferred destination for global investors in advanced technologies.”