Boston, 30th September 2023 Keeping the semiconductor industry as its focal point, Honorable Minister for Large & Medium Industries & Infrastructure Development, Government of Karnataka Shri M.B. Patil on Wednesday invited global semiconductor and automotive technology companies to invest in the state.
The minister held talks with a leading foundational technology solutions provider MKS Instruments and Irish-American automotive technology supplier Aptiv Plc and discussed possibilities to deepen investment ties in the state in the semiconductor sector.
Shri Patil is leading a delegation comprising senior officials from the Department of Commerce and Industries to the USA to attract investments across many sectors into the state. The delegation is largely showcasing Karnataka’s prowess in semiconductors, aerospace and defence, auto/electric vehicles, space, and medical technology. Dr. S Selvakumar, Principal Secretary to Government, Department of Commerce and Industries, Government of Karnataka, and Smt. Gunjan Krishna, Commissioner for Industrial Development and Director, Industries and Commerce are accompanying the minister.
During his discussion with Aptiv, Shri Patil invited the company to explore the possibility of setting up an R&D centre in Mysuru, and Hubballi-Dharward. The development of a local supplier base for semiconductors, establishing connections with Original Equipment Manufacturers (OEM), and assembly, testing, marking, and packaging (ATMP) for Aptiv’s products were actively discussed.
Positioned at the intersection of transformative trends in the mobility industry, Aptiv is spearheading the electrified, software-defined future of mobility. The company has been in India for nearly two decades now operating seven manufacturing plants, three technical and engineering centres, and a global tooling centre.
With MKS Instruments, the Minister discussed promising opportunities for technology advancement in vacuum and photonics along with the expansion of software engineering and the availability of a skilled workforce. The meeting also mulled over initiatives to establish connections with potential suppliers for MKS along with conversations regarding corporate tax rates, wages, and intellectual property rights.
MKS Instruments, with a market cap of $6 billion and employing over 10,000 people is a leading provider of foundational technology solutions for semiconductor manufacturing, electronics packaging, and specialized industrial applications.
Kevin C. Klein, Head of Global Public Policy from Aptiv Plc along with senior officials of MKS Instruments John T.C. Lee, President & CEO, Eric Taranto, Executive Vice President and General Manager, Vacuum Solutions Division, Dave Henry, Executive Vice President, Operations and Corporate Marketing, Madhuri Andrews, Executive Vice President, and Chief Information Officer, Manu Sabharwal, Vice President Global Tax and Treasury and David Ryzhik, Vice President of Investor Relations attended the meeting.
The delegation also held meetings with an American financial services company State Street and fluorinated solutions provider Orbia.
Orbia discussed exploring the potential use of fluorine in energy materials and potential collaborations within the EV value chain, opportunities for ethylene production, and the manufacturing of pipes for drip irrigation projects and held conversations regarding government support needed for land plots in the existing manufacturing plant in the state.
With State Street, the Minister discussed the financial services industry and its potential for the growth of financial services assets, government support for banking licenses streamlining approval processes for Joint Ventures to improve ease of doing business, and assistance in talent acquisition for Global Capability Centers.
