Karnataka promised to roll out the red carpet to Taiwanese companies as it urged them to make more investments in the state. Karnataka’s Large and Medium Industries Minister Murugesh Nirani promised to extend all governmental support and cooperation during a meeting with a high-level Taiwanese delegation on Thursday in Bengaluru.
The Taiwanese delegation was led by Baushaun Ger, Head Representative, Taipei Economic and Cultural Centre (TECC), New Delhi, and Ben Wang, Director General, TECC South – Chennai, met Chief Minister Basavaraj Bommai and Nirani to discuss investment opportunities. The delegation is on a two-day visit to the state.
Pitching Karnataka as an ideal destination for investment, Nirani told the delegation, “Karnataka and Taiwan share many similarities as both focus on major industries like electronic system design and manufacturing (ESDM), electric vehicles, auto and auto components, healthcare, engineering and machine tools, and innovation. Karnataka is already home to major Taiwanese companies including the likes of Wistron Corporation, Mediatek, Delta Electronics and D-Link. So our state is the ideal destination to make investments.” The Taiwan-based Century Development Corporation (CDC), which develops industrial parks, has finalised a master plan and started work on an industrial park in Bengaluru. The company acquired 70 acres from Karnataka Industrial Area Development Board (KIADB) near Aerospace Park at Devanahalli, where it will house 100 Taiwanese companies. TEMICO Motors India Pvt Ltd has started building a factory in the park.
The CDC is established by the Ministry of Economic Affairs, Taiwan, and private companies including the TECO Group, the Shinkong Group, the Taishin Group, BES, RSEA, the Fubon Group, and Ascendas. CDC was founded in 1993 and based in Taipei.
Nirani described to the visiting delegation the Karnataka government’s initiatives and policies aimed at promoting industries. “Karnataka has taken many initiatives to enhance its stature as one of the leading high-tech industrialised states in the country. We have implemented a new industrial policy for the period 2020-2025. Our policies are aimed at ensuring balanced, sustainable and inclusive industrial development throughout the state. The relaxed labour laws, amended Karnataka Land Reforms Act, Karnataka Facilitation Act, affidavit-based clearance and enhanced ease of doing business greatly help investors and allow them to obtain hassle-free approvals and start operations,” Nirani said.