Taiwan Industrial Park to be Established in Hyderabad Future City with ₹2,000 Crore Investment
Hyderabad, March 20: In a significant boost to Telangana’s industrial growth, Taiwan’s leading business conglomerate, Elegance Group, has announced plans to develop a world-class Technology and Industrial Park (ITIP) in Hyderabad Future City. With an investment of ₹2,000 crore, this will be the first-of-its-kind Taiwan Industrial Park in India, aimed at fostering high-end manufacturing and technology-driven industries.
Following the directives of IT and Industries Minister Duddilla Sridhar Babu, a high-level Telangana government delegation is currently in Taipei, Taiwan, to strengthen economic ties and attract Foreign Direct Investment (FDI). As part of the Taiwan-India economic relations promotion program, 11 Taiwanese companies signed Memorandums of Understanding (MoUs) on Thursday, confirming their commitment to investing in this upcoming industrial park.
Land Allocation & Project Timeline
The Telangana government has already allocated 15 acres of land in the Electronics Park at Kongarakalan for the development of ITIP. However, in view of the large-scale investments and industry expansion plans, Taiwanese companies have requested an additional 250 acres to establish full-scale industrial units.
Taiwanese representatives have assured that development work on the industrial park will commence as soon as the additional land is allocated. The project will be executed in phases, with the first phase scheduled for completion within three years, during which industries will be set up with an initial investment of ₹2,000 crore. Production operations are expected to begin immediately after completion.
This massive investment is projected to generate thousands of direct and indirect employment opportunities, significantly contributing to Telangana’s economy. The park will focus on the manufacturing of high-end technological products, including electronics and solar panels, catering to both domestic demand and large-scale exports.
Taiwan’s Confidence in Telangana’s Industrial Ecosystem
During discussions, Simon Lee, Chairman of the Taiwanese Representatives Group, praised Telangana’s favorable industrial environment, skilled workforce, and business-friendly policies. He also announced plans to build a Taiwanese community, ‘Formosa Town’, within the industrial park to preserve and support the culture of Taiwanese professionals involved in the project’s development and management.
The Taiwanese delegation further expressed keen interest in collaborating with Young India Skills University to ensure a steady supply of trained professionals for the industries being set up. Wing Commander Dr. Suryakant Sharma, Director of the State Electronics Department, conveyed Minister Sridhar Babu’s assurance that the state government would facilitate access to skilled manpower and necessary resources.
Next Steps: Meeting with CM Revanth Reddy
Taiwanese business leaders have confirmed that a delegation will soon visit Telangana to discuss the industrial park’s development plan with Chief Minister A. Revanth Reddy and Industries Minister Sridhar Babu. They aim to finalize land allocations and address logistical requirements to fast-track the project’s implementation.
The MoU signing event in Taipei was attended by Taiwan Chamber of Commerce President Ho Chun-hsin and Director General of the India Taipei Association, Manhar Singh Yadav.
With this landmark collaboration, Telangana is set to emerge as a major hub for Taiwanese investments in India, further strengthening the state’s position as a leader in industrial development and technological innovation.
