This company will invest 1 billion dollars in India
NXP Semiconductors to invest $1 Billion in India: India is gradually developing itself as a semiconductor hub. Semicon 2024 Summit was organized today in Greater Noida, Uttar Pradesh. Prime Minister Narendra Modi participated in this summit and expressed his heartfelt desire and said, “We want every device in the world to have a chip made in India.” Meanwhile, a big news is coming that a foreign company is planning to invest heavily in the semiconductor sector in India.
This Netherlands company will invest Rs 8400 crore in India
Yes, Netherlands-based NXP Semiconductors is planning to invest more than $1 billion (Rs 8400 crore) to double its R&D activities in India in the next few years. NXP Executive Director, President and CEO Kurt Sievers said at Semicon India 2024 on Wednesday that the company is connecting with the entire industry.
NXP has been working in India for 50 years
Kurt Sievers said, “In this context, NXP is committed to doubling its R&D efforts in India in the next few years to more than a billion dollars.” Sievers said NXP has been present in India for nearly 50 years. He said, “We have about 3,000 employees and engineers. We have designed some of the latest semiconductor devices for the world. In India, the change I see now is that for the future, we will not only work in India for India but will also work in India for the world.”
Renesas Electronics partners with CG Power
During the inaugural session, Renesas Electronics CEO Hidetoshi Shibata said the company has partnered with CG Power for an assembly and testing semiconductor plant. He said Renesas plans to double its workforce in India by next year.
Semiconductor industry will be the basis of developed India
Tata Electronics CEO and Managing Director Randhir Thakur said the semiconductor industry will be the backbone of ‘developed India’ by 2047. “We will create 50,000 jobs as part of this journey, which is just the beginning,” he said.
With PTI inputs
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