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Tuesday, July 23, 2024

Seven investors including Kaynes to invest in Mysuru’s electronics cluster

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In Short:

The Government of Karnataka is planning to set up an electronics manufacturing cluster in Mysuru district at a cost of Rs 245.67 crore, with support from the union ministry of electronics and information technology. Companies like Kaynes Technology India, Gopalan Aerospace, and Krypton India Solutions have proposed investments in the cluster. The project aims to create a semiconductor manufacturing zone and boost the electronics industry in the state.

Government of Karnataka plans to set up electronics manufacturing cluster in Mysuru

The Government of Karnataka has finalized 235.5 acres of land in the Kochanahalli Industrial Area in Mysuru district for the establishment of an electronics manufacturing cluster (EMC). The total project cost is estimated to be Rs 245.67 crore, excluding the cost of land. This cost includes central financial assistance of Rs 122.83 crore from the union ministry of electronics and information technology (MeitY).

Key Investments

Several companies have shown interest in investing in the EMC. Kaynes Technology India, Gopalan Aerospace, and Krypton India Solutions are among those who have proposed significant investments in the project.

Kaynes Technology India has submitted a letter of intent to invest Rs. 150 crore on 20 acres of land, while Gopalan Aerospace plans to invest Rs. 200 crore on 50 acres, and Krypton India Solutions intends to invest Rs. 175 crore on 10 acres.

Project Status

The detailed project report and application for the EMC cluster have been submitted to the Centre. The process of approval from MeitY is currently underway, with all queries from the Software Technology Park of India (STPI) being addressed. Physical inspection of the site was completed on May 28 this year by STPI.

Ecosystem and Infrastructure

Located six km from Mysuru airport and 200 km from Bengaluru International Airport, the Kochanahalli EMC also benefits from its proximity to the Mangaluru Port, Mysuru railway station, and inland container depots. The region offers advantages in terms of connectivity and logistics for the development of a robust electronics manufacturing ecosystem.

Industry Support

The EMC cluster aims to support existing players in the electronics sector while attracting new investments and fostering growth in semiconductor and related industries. The project aligns with the government’s focus on developing a competitive electronics manufacturing ecosystem in the country.

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