Gandhinagar (Gujarat) [India], April 10 (ANI): The Gujarat government has taken a key step to accelerate Gujarat's journey towards becoming a semiconductor hub, in line with the India Semiconductor Mission, under the visionary leadership of Prime Minister Narendra Modi.

Gujarat is fast emerging as the destination of choice for semiconductor manufacturing, with projects worth over 1.24 lakh crore currently under development in the state, according to the release from Gujarat CMO.

To further accelerate this momentum under the leadership of Chief Minister Bhupendra Patel, an MoU was signed on Friday in Gandhinagar between the State Government's Department of Science and Technology and Allegiance International Company Limited.

The MoU was signed by the Vice President of the Taiwan Chamber of Commerce in India and Chairman of Allegiance Group, Simon Lee, and the Secretary, Science & Technology Department, Government of Gujarat, P Bharathi, in the presence of Science and Technology Minister Arjun Modhwadia.

Under this MoU, M/s Allegiance International Company Limited will facilitate and strengthen business collaboration between enterprises of India and Taiwan looking to establish operations in India, as per the release.

For this purpose, an Indo-Taiwan Industrial Park will be developed in Sanand-Dholera, aiming to attract over 1,000 crore in proposed foreign direct investment (FDI) from Taiwanese industries--especially in the semiconductor and electronics sectors--and generate around 12,000 direct employment opportunities over the next five years.

As a result, Gujarat's collaboration with Taiwan will be further strengthened to support companies in semiconductors and allied sectors, electronics manufacturing, electric vehicles, robotics, and related supply chains, thereby fostering a robust production ecosystem, the release stated.

On the occasion of the MoU signing, Principal Secretary to the Chief Minister Shri Sanjeev Kumar, Additional Principal Secretary Vikrant Pandey and office bearers of the Taiwan Chamber of Commerce were also present. (ANI)