Kerala government and India Electronics and Semiconductor Association (IESA) have together inked an accord, in a move towards developing the IT sector in the state. Accordingly, this will lead into the set-up of a liaison agency in Taiwan for the promotion of Kerala’s investment potential in the electronics system design and manufacturing (ESDM) sector. This agreement received the approval as the new IT policy got flagged off, recently.
State electronics and IT secretary M. Sivasankar and IESA president MN Vidyashankar signed a MoU on June 29, 2017. The memorandum is anticipated to invite significant funds from Southeast Asia and open doors to profit-making markets in Asia’s tech hub. This might follow on to expand operations in South Korea and Philippines.
“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-energize the state’s electronics manufacturing capacity and start-up ecosystem,” said Sivasankar.
The southern state is also working on brand promotion by influencing IESA’s network with prominent industry bodies in target countries. IESA will conduct two annual road shows, one each in Taiwan and Kerala and organize delegation visits.
“This agreement will give Kerala a head start in target areas in terms of brand recognition and visibility, potential investment opportunities and ease of doing business. This will ensure a safety net for Kerala’s fast-growing IT ecosystem,” said Vidyashankar.
IESA will also prepare a strategic roadmap, outlining brand marketing and potential investment opportunities over the next five years. It will also reserve a slot for Kerala at IESA Vision Summit – its annual global leadership conclave for ESDM industry.