US semiconductor toolmaker Applied Materials has announced plans to invest $400 million in a new engineering center in India over the course of four years. This decision comes after Indian Prime Minister Narendra Modi met with Applied’s CEO Gary Dickerson and encouraged the company to strengthen the chip industry in the country.
Applied’s investment is part of a series of recent announcements, including General Electric’s deal with Hindustan Aeronautics Ltd to produce jet engines for the military and Micron’s $825 million investment in a new factory in India.
During his visit to the United States, Prime Minister Modi also met with Tesla CEO Elon Musk, who expressed the company’s intentions to establish a presence in India swiftly.
The new engineering center in India is expected to be located near Applied’s existing facility in Bengaluru. It is projected to support over $2 billion in planned investments and create 500 advanced engineering jobs. Applied currently operates across six sites in India and collaborates closely with prestigious institutions such as the Indian Institute of Science, Bangalore, and the Indian Institute of Technology in Mumbai.
In a separate development, US chipmaker Micron has announced its plans to invest up to $825 million in a new chip assembly and test facility in Gujarat, India. This will be Micron’s first factory in the country. The total investment in the facility, with support from the Indian central government and the state of Gujarat, is expected to be $2.75 billion. Construction is set to begin in 2023, with the first phase of the project expected to be operational by late 2024.
These investments signal a significant commitment to the growth and development of India’s semiconductor industry.
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