Global chip maker AMD has announced plans to invest $400 million in India in next 5 years. AMD CTO Mark Papermaster has said that the firm will establish a facility in Bengaluru which will be its biggest R&D facility in the world. He made the annoucement at the inauguration of annual Semicon India 2023 event being held in Gujarat's Gandhinagar.
"AMD will invest $400 million in India in the next 5 years. We will establish a new campus in Bengaluru. This will be AMD's biggest R&D facility in the world," said Mark Papermaster, CTO, AMD. He made the announcement in the presence of Prime Minister Narendra Modi, Union Minister For Electronics and Information Technology Ashwini Vaishnaw and Minister of State Rajeev Chandrasekhar.
This is the fourth major announcement of investment in the semiconductor sector. Prime Minister Narendra Modi had secured three investment announcements during his state visit to United States in June this year. Chip maker Micron has announced an assembly and testing facility in Gujarat while semiconductor toolmaker Applied Materials unveiled plans of $400 million in the country. Lam Research is also set to train 60,000 engineers in the country to help develop workforce in the semiconductor industry.
The Indian government has been trying to spur investment in the semiconductor industry. It had announced a $10-billion incentive programme for firms looking to establish their plants in India. It is being implemented through the India Semiconductor Mission. Last year, Vedanta and Foxconn had also announced plans to establish a plant in Gujarat. However, Foxconn walked out of the joint venture and is now reportedly in talks with Gujarat government for establishing a separate semiconductor facility.