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Israeli firm ISMC Analog Fab Pvt. Ltd.’s investment of ₹22,900 crore ($3 billion) to establish a state-of-the-art semiconductor plant in Mysuru is set to emerge as a major driver of knowledge-based industrial economy in the city
Israeli firm ISMC Analog Fab Pvt. Ltd.’s investment of ₹22,900 crore ($3 billion) to establish a state-of-the-art semiconductor plant in Mysuru is set to emerge as a major driver of knowledge-based industrial economy in the city
The Israeli firm ISMC Analog Fab Pvt. Ltd.’s investment to the tune of ₹22,900 crore ($3 billion) in Mysuru to establish a state-of-the-art semiconductor plant is set to emerge as a major driver of knowledge-based industrial economy in the city.
The ISMC is set to fully implement the project over a period of seven years with a potential to generate 1,500 high-tech jobs, besides over 10,000 indirect and ancillary jobs.
Sanjeev K. Gupta, CEO, Karnataka Digital Economy Mission, told The Hindu that availability of natural resource of water and power and the talented or skilled manpower that Mysuru produced were critical factors that tilted the scales in the city’s favour.
Observers said the decision to bring investment and the semiconductor plant to Mysuru was also reckoned to be one of the biggest success of Beyond Bengaluru, a Government of Karnataka initiative to take industries beyond the capital city, which is saturated besides resulting in lopsided development. With this, the Government had ensured that future-tech goes beyond Bengaluru and there was even development, they added.
Mr. Gupta said the Government was driving the Beyond Bengaluru concept wholeheartedly for ensuring an even growth of Karnataka in which every part of the State should develop and Mysuru emerged as an important place in this mission. The Beyond Bengaluru concept envisages promoting emerging technology clusters to rest of Karnataka and this is the biggest success of the initiative so far.
Minister for Higher Education C.N. Ashwath Narayan took to Twitter to express his happiness over the development and said: “Happy to say that the first state-of-the-art semiconductor plan will come up in #NammaMysuru. The place that became the best-administered State in the world under Sri Nalvadi Krishnaraja Wadiyar avaru. His administrative acumen is the guiding beacon for our Government’’.
Mr. Ashwanth Narayan, in a series of tweets, recalled the contribution of Nalwadi Krishnaraja Wadiyar and said he was thankful to Prime Minister Narendra Modi for his vision and Chief Minister Basavaraj Bommai for his support in bringing this fab facility to Mysuru. It was the place that played a significant role in contributing to the industrial revolution in our country, he added.
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