Kerala Govt. signs MoU to woo investments from South-East Asia

0

Trivandrum: In a major fillip to the State’s IT and electronics manufacturing sectors, the Kerala Government today signed a MoU with the India Electronics & Semiconductor Association (IESA) to attract high-value investments from South-East Asia and also offer unprecedented access to lucrative markets in that region, known as Asia’s tech hub.

M Sivasankar IAS, Secretary, Electronics & IT, GoK and M N Vidyashankar, President, IESA signed the MoU in the presence of Chief Minister, Shri Pinarayi Vijayan. The MoU is valid for five years.

Under the agreement, Kerala will partner with IESA, the country’s premier industry body for electronics, semiconductor and embedded systems, to set up a liaison agency in Taiwan to promote the investment potential of the state’s electronics system design and manufacturing (ESDM) sector. In addition to the host nation, the other target countries are South Korea and the Philippines.

The thrust segments for investment will be the consumer, industrial and solar electronics as also medical products and automotive electronics devices, among other areas. For mobilising investment, the agency will identify and facilitate tie-ups between leading firms in the target countries and home-grown entities within or outside the state’s Electronics Manufacturing Clusters (EMCs).

“This partnership is in line with the government’s development strategy, as outlined in this year’s Budget, to transform Kerala into a manufacturing hub for IT hardware. By providing additional avenues for investment, collaboration and expansion, it will complement the government’s efforts to re-energise the state’s electronics manufacturing capacity and its vibrant startup ecosystem,” said Sivasankar.

Kerala is one of the associate partner states in this initiative, which will also leverage IESA’s network of connections and associations with prominent industry bodies to raise awareness about and better position the Kerala brand in the target countries. The agency will conduct two annual road shows, one each in Taiwan and Kerala, and organise delegation visits.

“Partnering with IESA will give Kerala a head-start in the target areas in terms of brand recognition and visibility. Potential collaborators in these countries will be predisposed to treat Kerala as a client they have known from the beginning, which will further diversify avenues of access to the local markets,” said Vidyashankar.

Kerala Biz News

Share.

Comments are closed.