US Semiconductor Company Microchip Announces $300 mn Investment Plan in India
US-based semiconductor company Microchip Technology has announced its plan to invest USD 300 million to expand its operations in India. The company has also inaugurated a new research and development (R&D) facility in Hyderabad. Located in the One Golden Mile Office Tower, the 168,000-square-ft centre has a capacity for 1,000 employees. “Microchip is making a significant strategic commitment to growing our operations in India, whose meteoric growth has established it as one of the top sources of business and technical resources in our sector. “Our investments here will enable us to both benefit from and contribute to the country’s increasingly important role in the global semiconductor industry,” said Ganesh Moorthy, President and CEO of Microchip, said. Recently, Micron Technology, an American chipmaker, has announced plans to invest up to USD825 million in the establishment of a new chip assembly and test facility in Gujarat, India. This marks their first manufacturing plant in the country and is expected to generate around 5,000 direct employment opportunities in the region. Reportedly, the Government of India (GoI) has recently approved five applicants in the semiconductor space under Design Linked Incentive (DLI) Scheme. Through the scheme, GoI aims to foster innovation and promote the development of integrated circuits, chipsets, systems on chips, systems, and IP cores through this initiative.
The company has also inaugurated a new research and development (R&D) facility in Hyderabad.
US-based semiconductor company Microchip Technology has announced its plan to invest USD 300 million to expand its operations in India.
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