March 19, 2025 | Central News Agency (CNA) | Reporter: Yang Yao-ju
Source:印度泰倫加納省攜手台企 打造台商工業區 | 政治 | 中央社 CNA
Telangana State and Allegiance Group signed a cooperation agreement on March 19 to establish the first I.T.I.P Taiwanese Industrial Park in the state, witnessed by Dr. Manharsinh Laxmanbhai Yadav, Director-General of the India–Taipei Association (ITA). (Photo courtesy of ITA)
The Government of Telangana and Allegiance Group have signed an agreement to jointly establish the first “I.T.I.P Taiwanese Industrial Park” in Telangana’s Future City.
The signing ceremony was attended by ITA Director-General Dr. Yadav, representatives of the Telangana Government, and the first group of Taiwanese manufacturing and service companies, who also signed investment intent letters.
According to ITA’s press release, the planned I.T.I.P Industrial Park will cover 265 acres, attract approximately INR 20 billion (USD 240 million) in business investments, and create 100,000 direct and indirect job opportunities. Telangana plans to strengthen its manufacturing supply chain and leverage its well-developed service sector to accelerate the development of the Future City industrial ecosystem — a sustainable hub integrating production, trade, and innovation.
Dr. Yadav remarked that this milestone marks a new chapter in Taiwan–India cooperation, signifying a key step forward in the “Golden Decade” of Indian industrial growth.
Mr. Jack Lee, President of Allegiance Group, highlighted Telangana’s strong advantages in high-tech and healthcare industries, abundant skilled engineers, and robust manufacturing capabilities supported by a favorable demographic dividend. He also noted that the Telangana Government will provide subsidies for land, construction, logistics, and workforce training, and that Taiwanese investors will hold permanent ownership of their industrial land assets.
Mr. Lee added that the upcoming I.T.I.P Taiwanese Industrial Park will feature comprehensive infrastructure and one-stop investment services. In collaboration with the state government, Allegiance Group will also develop “Formosa Living Park,” India’s first Taiwanese business community, designed to become a home away from home for Taiwanese enterprises in India.