Minister for Large and Medium Industries Murugesh Nirani on Monday said the Israel-based International Semiconductor Consortium (ISMC) has shown interest in investing about ₹23,000 crore in Mysuru, which is witnessing rapid industrialisation.
Speaking after inaugurating ‘Kaigarika Dasara’ as part of Dasara festivities here, Mr. Nirani said ISMC has signed an MoU with the State government for establishing a semiconductor unit in Mysuru. “The investment will create umpteen number of jobs in the region,” he claimed.
He said the BJP government in the State has laid emphasis on developing Tier-II and Tier-III cities industrially with Bengaluru already witnessing rapid expansion. Mysuru is also one of the focus cities in the State for expanding industrial growth.
Mr. Nirani said the Global Investors’ Meet is happening in Bengaluru from November 2 to 4 and added that world’s top investors have been invited to invest in Karnataka. Many of them have shown interest in making investments.
“We are hopeful of nearly ₹5 lakh crore investments at the investors’ meet this year which will result in the creation of 10 lakh jobs,” he told the gathering.
The Minister said Nalwadi Krishnaraja Wadiyar of the eerstwhile Mysuru royal family was instrumental in Karnataka achieving industrial growth. Mr. Nirani also lauded Sir M. Visvesvaraya for his contributions.
Minister in charge of Mysuru district S.T. Somashekar and others were present.
