Karnataka Chief Minister Siddaramaiah on December 23, approved a proposal by Zoho-backed Silectric Semiconductor Manufacturing Pvt Ltd to invest Rs 3,425.6 crore in the state's first electronics manufacturing cluster near Mysuru.

This project, which is expected to create 460 jobs, marks a significant milestone for Karnataka in the semiconductor and electronics manufacturing sector, the CM said.

The investment was approved during the 64th State High-Level Clearance Committee (SHLCC) meeting chaired by Siddaramaiah. 

The meeting approved a total of 10 proposals worth Rs 9,823 crore across various industrial sectors, which are projected to generate 5,605 jobs in the state.

The state government has earmarked 234 acres of land at Kochanahalli near Kadakola in Mysuru for the electronics manufacturing cluster (EMC) and semiconductor units. 

Karnataka is also planning to introduce a new Electronics System Design and Manufacturing (ESDM) policy to further boost growth in the sector.