According to a statement released on Thursday, US semiconductor toolmaker Applied Materials would invest $400 million (approximately Rs. 3,300 crore) over the course of four years in a new engineering facility in India.
On Wednesday in Washington, Indian Prime Minister Narendra Modi met with the company’s CEO Gary Dickerson and encouraged Applied to support the nation’s semiconductor business.
A number of announcements were made this week, including General Electric’s agreement to produce military jet engines with state-owned Hindustan Aeronautics Ltd. and data storage chipmaker Micron’s $825 million (roughly Rs. 6,760 crore) investment to establish a new factory in India. Applied’s investment is one of them.
Elon Musk, the CEO of Tesla, also met with Modi, and after their meeting, Musk stated that Tesla will endeavour to enter India “as soon as humanly possible.”
According to the corporation, 500 new advanced engineering positions would be created at the new centre, which is anticipated to be situated close to the company’s current location in Bengaluru and support over $2 billion (approximately Rs. 16,400 crore) in planned investments. In India, Applied presently has six locations and collaborates closely with the Indian Institute of Science in Bangalore and the Indian Institute of Technology in Mumbai, two of the most famous universities in the nation.
Additionally, on Thursday, US chipmaker Micron revealed plans to build its first factory in India, a chip assembly and testing facility in Gujarat, with an estimated investment of up to $825 million (approximately Rs. 6,760 crore).
According to Micron, the facility would receive a total investment of $2.75 billion (approximately Rs. 20,500 crores), with help from the Gujarat state and the national government of India. Of that sum, 50% will come from the national government of India and 20% from the Gujarat state.
According to Micron, work on the new plant in Gujarat is scheduled to start in 2023, with the first phase of the project likely to be completed by the end of 2024.
