US-based company Krypton Solutions is planning to invest $100 million (Rs 832 crore) to establish a Printed Circuit Board (PCB) fabrication facility in Karnataka.
The decision to invest was announced during a meeting between the company's representatives and an official delegation led by Karnataka's Minister of Large & Medium Industries, MB Patil, in the United States.
Krypton Solutions intends to set up its new PCB facility in Bommasandra, Bengaluru and has already engaged in preliminary discussions with the government.
"During the meeting, the company also explored potential investment opportunities in Mysuru and Chamarajanagara within the state. Furthermore, Krypton expressed interest in forming local partnerships and sought support in identifying suitable entry and growth partners in the Indian market," said a statement from the Industries minister. The government delegation had toured Krypton's 40,000 square feet facility.
In addition to Krypton Solutions, Texas Instruments, a semiconductor manufacturing company, reaffirmed its commitment to expanding its Research and Development (R&D) activities in the state.
"Texas Instruments established its first technology R&D center in Bengaluru back in 1985, making it the largest outside of the company's Dallas headquarters. During discussions with Minister Patil and senior officials from the Department of Commerce and Industries, Texas Instruments explored R&D prospects in Analog and Embedded Semiconductors, with potential consideration for the Whitefield semiconductor park," it said.
The discussions with both companies also focused on streamlining the ease of doing business to reduce investment barriers.
The government delegation's visit to Texas Instruments included a tour of the 300-mm wafer fab manufacturing site.
These meetings are part of the state government delegation's 12-day tour to the United States aimed at attracting investments to the state. The tour is scheduled to conclude on October 6 and is led by S Selvakumar, Principal Secretary of the Karnataka Department of Commerce and Industries, along with Gunjan Krishna, Commissioner of Industries.
During the visit, Minister Patil also engaged in discussions with Texas-based ERP Logic, which is looking to enter Bengaluru to expand its presence in India after establishing a strong presence in Salem, Hyderabad, and Chennai. The discussions explored potential collaborations for SAP skilling initiatives in Karnataka, the release adds.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
