MoU between Kerala Govt. and IESA to attract investments from SE Asia

The state government of Kerala has signed an 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. This will give a major fillip to the state’s information technology and electronics sector. 

The Secretary to Government of Kerala for Electronics and Information Technology, Shri M. Sivasankar IAS, and IESA President Shri M.N. Vidyashankar signed the MoU at the state Secretariat in Thiruvananthapuram in the presence of Chief Minister of Kerala Shri Pinarayi Vijayan.

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 MoU is valid for five years.

The thrust segments for investment will be consumer, industrial and solar electronics as also medical products and automotive electronics devices, among other areas. For mobilizing 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-energize the state’s electronics manufacturing capacity and its vibrant startup ecosystem,” Shri Sivasankar said. 

“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. Given the region’s status as a top-tier tech hub, the potential investment opportunities and ease of doing business there will provide an important safety net to Kerala’s fast-growing IT ecosystem,” Shri Vidyashankar said.

Tags: Kerala Govt, IESA, India Electronics & Semiconductor Association, SE Asia, South East Asia, M Sivasankar secretary kerala govt, M N Vidyashankar iesa president, Pinarayi Vijayan, Chief Minister of Kerala