Applied Materials, the US semiconductor toolmaker, has announced its plans to invest $400 million over a span of four years in a new engineering centre in India. The Indian Prime Minister, Narendra Modi, met with the CEO of Applied Materials, Gary Dickerson, in Washington to discuss the company’s role in strengthening the chip industry in India.
This investment from Applied Materials comes amidst a series of significant announcements in the tech industry this week. General Electric has entered into a deal with Hindustan Aeronautics Ltd, a state-owned company, to jointly produce jet engines for the military. Additionally, data storage chipmaker Micron has disclosed its investment of $825 million to construct a new factory in India.
During the meeting, Narendra Modi also interacted with Elon Musk, the CEO of Tesla. Musk expressed the automaker’s intention to establish a presence in India as soon as possible.
The new engineering centre is expected to be located near Applied Material’s existing facility in Bengaluru. It is predicted to support more than $2 billion of planned investments and generate 500 new job openings in the field of advanced engineering.
Applied Materials currently operates in six sites across India and collaborates closely with esteemed institutions like the Indian Institute of Science, Bangalore, and the Indian Institute of Technology, Mumbai.
In a similar vein, US chipmaker Micron has declared its investment of $825 million in a new chip assembly and test facility in Gujarat, marking its first manufacturing unit in India. This project is supported by the Indian central government and the Gujarat state government, with a total investment of $2.75 billion. Construction of the facility is set to commence in 2023, and the first phase will be operational by late 2024.
© Thomson Reuters 2023
Denial of responsibility! SamacharCentrl is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Deepak Sen is a tech enthusiast who covers the latest technological innovations, from AI to consumer gadgets. His articles provide readers with a glimpse into the ever-evolving world of technology.