Bangalore, May 2 2022: Karnataka is first off the block  with a semiconductor fab commitment  by an international player.
On the sidelines of the Semicon India conference  which ended here yesterday, the state signed an MOU with  ISMC Analog Fab Private Ltd ,a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel's Tower Semiconductor whereby ISMC is to invest Rs. 22,900 crores ($3 billion) in a 65nm Analog Semiconductor Fabrication plant in  Mysore.
Dr. E.V. Ramana Reddy, Additional Chief Secretary to Government of Karnataka, Commerce and Industries, Department of Electronics Information Technology Biotechnology and Science & Technology signed the MoU on behalf of the Government of Karnataka with Mr. Ajay Jalan, Director, ISMC.
 Manjunatha Prasad N. Principal Secretary to the Chief Minister, Gunjan Krishna, Commissioner for Industrial Development, Director, Department of Industries and Commerce, Meena Nagaraj, Director, Electronics, Information Technology, and Biotechnology, Government of Karnataka,  Naor Gilon, Ambassador of Israel to India, Tammy Ben-Haim, Consul General and  Limor Bletter, Deputy Chief of Mission of India were present.
 ISMC has requested 150 acres of land in Mysuru’s Kochanahalli Industrial area. This will be one of India’s first and largest semiconductor fabrication units under the Central Government’s Indian Semiconductor Mission upon project approval by the Government of India. The project is expected to generate more than 1500 direct and 10,000 indirect employment opportunities and ancillary semiconductor ecosystem industry development in the area with significant multiplier effects.
Mr Bommai said: “This MoU is a significant agreement amid the competition among various states to attract semiconductor fabs. Karnataka understands that it’s not just the fiscal incentives that matter but the availability of a conducive eco-system and overall ease in operations are also important. We have one of the best infrastructures in the country and an abundant skilled talent pool. As a state we are not just trying to bring down the entry barriers for businesses but also make it easier to exit businesses, should it be so required. With robust policies, a committed team, best-in-class infrastructure, and an ever-increasing talent pool of workers, Karnataka is on its way to becoming a premier investment destination. I invite all of you to be a part of this Growth Story.”