Taiwan’s Allegiance Group to invest Rs 1,000 crore in Karnataka, to create 800 jobs

Karnataka government signed a Memorandum of Understanding (MoU) with The Allegiance International Co. Ltd. of Taiwan to establish the Ind-Taiwan Industrial Park (ITIP) in the state.

The project, led by The Allegiance Group, will involve an investment of around Rs 1,000 crore and is expected to generate approximately 800 direct jobs over the next five years.

ITIP will serve as a hub for Taiwanese companies in electronics and semiconductors, promoting advanced manufacturing, research and development, and innovation. "The initiative aims to strengthen Karnataka’s position as a leading destination in India for Electronics System Design and Manufacturing (ESDM) and accelerate the growth of the state’s semiconductor ecosystem" said a statement from Karnataka IT-BT department.

CM Siddaramaiah highlighted the significance of the partnership, stating, “This marks a key step towards Karnataka becoming a global hub for electronics and semiconductor innovation. ITIP will attract cutting-edge technology and investments, creating opportunities for our youth and strengthening India’s position in the global value chain.”

Priyank Kharge, IT-BT Minister said, “Karnataka has led India’s technology revolution and continues to excel in innovation, deep-tech talent, and semiconductor design. This partnership will help build a robust electronics and semiconductor ecosystem and reinforce Karnataka as a preferred destination for global investors in advanced technologies.”

Manjula N, IT-BT secretary added, “This MoU reflects Karnataka’s proactive approach to global collaborations and future-ready industrial clusters. By leveraging Taiwanese expertise, we aim to enhance supply chains, promote technology transfer, and create high-value jobs while ensuring innovation, sustainability, and inclusive growth across the state.” Lawrence Chen, vice president of the Allegiance Group, said: “We are excited to partner with Karnataka, known for its technology leadership. ITIP will enable Taiwanese companies to expand in India and contribute to the growth of the semiconductor and electronics ecosystem.”

"ITIP is expected to be a world-class industrial hub, fostering a strong supply chain for components, printed circuit boards, and chip design, while offering skill development programs in collaboration with academic institutions", the statement adds.