In addition, the company is investing Rs 340 crore In India currently and will invest another Rs 1,500 crore over the next few years
In light of the recently held Semicon India Conference in Bangalore, US-based Applied Materials has announced a cumulative investment of Rs 1,800 crore to help build chips in India over the next few years.
Applied Materials, which is a material engineering solution and one of the largest semiconductor display equipment manufacturers in the world, also invested $50 million to purchase land in Whitefield, Bangalore, where the company plans to expand its engineering infrastructure and support the next phase of our growth.
The California-headquartered company’s India subsidiary has acquired the built-up space across five office blocks in Export Promotion Industrial Park (EPIP) phase II.
In addition, the company is investing Rs 340 crore In India currently and will invest another Rs 1,500 crore over the next few years.
“We expect this investment to support future product development and R&D, as well as benefit the development of the local supply chain,” says Srinivas Satya, Country President and Managing Director, Applied Materials India.
While speaking at the SemiconIndia 2022 conference, he also added that the company plans to expand its infrastructure in the country.
“Applied Materials is excited to be a part of the Semicon India Conference and join the government’s vision of making India an electronics hub by supporting the new India semiconductor and display policies. The government’s mission mode approach to evolve the country’s semiconductor sector, together with the Ease-of-Business initiatives and scaling up of indigenous electronics end-manufacturing, are positive and practical steps to enable India’s Semiconductor Mission.”
India will be the fastest-growing semiconductor consumption market in the world with annual domestic demand expected in excess of $110 billion by the end of the current decade, minister of state for IT & electronics Rajeev Chandrasekhar said recently, adding that top global chipmakers have shown serious interest in bringing in large-scale investment into the country.
Founded in 2003, Applied Materials India is the second-largest resource for engineering support for Applied Materials globally. The India arm provides the organization with engineering design, support services and innovation in materials science and engineering through its partner ecosystem in the country.
