- Microchip CEO Ganesh Moorthy said the investments would go into additional improvements to its Bengaluru, Chennai, and Hyderabad facilities.
- Microchip purchased five floors, for its 168,000-square-foot R&D centre, in the 15-storey One Golden Mile office building in Kokapet, Hyderabad.
Microchip Technology announced a $300 million investment towards expanding its operations in India at the inauguration of its relocated Hyderabad research and development (R&D) centre in the Kokapet business district.
Addressing a press conference on Monday, the president and CEO of Microchip, Ganesh Moorthy, said the investments would go into additional improvements to Microchip’s Bengaluru, Chennai, and Hyderabad facilities. “The investment will enable the company to leverage and contribute to India’s burgeoning role in the global semiconductor market.
Microchip’s planned investment will be used to enhance the infrastructure in Bangalore and Chennai offices, inaugurate the new research and development centre in Hyderabad, expand and improve engineering labs, improve customer support in India, accelerate hiring activities, sponsor technical consortia, support academic institutions and programs, and launch Corporate Social Responsibility (CSR) initiatives tailored to regional needs.
Hyderabad Research Centre
Microchip’s new R&D centre joins two other R&D centres in Bangalore and Chennai and sales offices in Bangalore, Chennai, Hyderabad, Pune and New Delhi. The company purchased five floors, for its 168,000-square-foot R&D centre, in the 15-storey One Golden Mile office building in Kokapet. The company currently employs around 500 employees at the centre and is expected to expand its workforce to 1000.
“In Hyderabad, we are hiring at the rate of 10% to 15%, so by the next year, we expect to reach a total strength of 650-700 employees. The hiring rate across India will also be the same,” managing director of Microchip’s India development centre, Srikanth Settikere, said while addressing the press conference.
The centre was inaugurated on July 3, in a ceremony attended by Telangana’s IT, Industries, Municipal Administration and Urban Development minister, K.T. Rama Rao; principal secretary IT, IBC, Telangana Jayesh Ranjan; president and CEO of India Electronics and Semiconductor Association (IESA) Krishna Moorthy.
Recent reports from IESA and Counterpoint Research predict that India’s semiconductor market is set to reach $64 billion by 2026, nearly tripling its size from 2019, when it stood at $22.7 billion.
Microchip employs around 2,500 individuals in India and supports over 2,000 regional customers. It contributes to over 25 business units and develops solutions for various industries, including industrial, automotive, data centre, aerospace and defence, communications, and consumer electronics.
“Microchip’s investments in India over nearly two and a half decades have augmented its headcount growth, resulting in building a centre of excellence for engineering deliverables and solutions for Microchip’s global success,” said Krishna Moorthy, President and CEO of the India Electronics and Semiconductor Association (IESA).
