The Karnataka Digital Economy Mission (KDEM), a special entity set up to strengthen the digital economy in the State by growing the ESDM (Electronics, System, Design & Manufacturing) industry, said it has received Letter of Intent (LoI) from 18 large corporations that are wanting to set up their business operations and create 15,000 new jobs in the State.
B.V. Naidu, Chairman, Karnataka Digital Economy Mission, said: “We are delighted to have received an outstanding response from industry players; 18 companies have joined forces with us and have shared the LoI to set up operations with significant investments directed towards building the ESDM ecosystem and generating over 15,000 employment opportunities for the local talent in the State.”
As an enabler of a conducive business environment in Karnataka, KDEM was established with the vision of acting as a knowledge bridge between the industry and the Government with a strong focus on innovation, startups, ESDM among others, he said.
SLN Technologies, Proxelera, Wurth Electronics, Virtulive Technologies, Gopalan Aerospace, Kaynes Technology, Rapture Innovation Labs, Physics Motors Technology, Astr Defence, and nanoPix Integrated Solutions were some of the companies that featured in the LoI list.
“Over the last few years, the demand for superior technology products has seen significant growth, encouraging the need to strengthen the ESDM sector. Karnataka has always been at the forefront of the technology space, contributing significantly to the country’s digital growth,’‘ E.V. Ramana Reddy, Additional Chief Secretary, Department of Electronics, Information Technology (IT) & Bio-Technology (BT) and Science & Technology.