Just days after companies in the same sector as Micron, Applied Materials, and Lam Research made similar intentions, the US-based semiconductor giant Microchip Technology recently revealed a $300 million investment strategy to expand its operations in India.
The firm opened a new research and development, R&D facility at One Golden Mile Office Tower in Hyderabad to increase its footprint in India. In addition to Microchip’s already-existing projects in Bengaluru and Chennai, as well as sales offices in other cities, including Bengaluru, Chennai, Hyderabad, Pune, and New Delhi, this 168,000-square-foot center offers room for 1,000 employees.
This tactical investment will support the new Hyderabad R&D facility in addition to improving the engineering laboratories at Microchip’s Bengaluru and Chennai facilities. According to a corporate statement, the company is concentrating on meeting the technical and commercial support demands of a rising client base in India.
As the company seeks to take advantage of India’s expanding talent pool, Microchip noted that the plans will lead to a major increase in recruiting. The corporation also plans to start a variety of Corporate Social Responsibility (CSR) programmes that are specifically suited to regional requirements, assist educational institutions and programmes, and finance technical consortia.
In India, the company employs about 2,500 people who work in semiconductor design and development, sales and support, IT infrastructure, and application engineering operations to support its 2,000 customers who are located there and work in the industrial, automotive, data center, aerospace, defense, communications, and consumer industries.
Ganesh Moorthy, President and CEO of Microchip, said, “Microchip is making a substantial strategic commitment to strengthening our operations in India, whose meteoric rise has positioned it as one of the top providers of business and technical resources in our sector. Our investments here will enable us to both benefit from and contribute to the country’s increasingly important role in the global semiconductor industry,” he continued.
According to a recent analysis by the India Electronics and Semiconductor Association (IESA) and Counterpoint Research, the country’s semiconductor industry is predicted to grow by over three times to $64 billion USD by 2026 from its current size of $22.7 billion USD.
During PM Narendra Modi’s trip to the US last month, India’s semiconductor industry received a flurry of transactions. The first plant for the American chipmaker Micron Technology in India, Gujarat, will invest up to $825 million in a new chip assembly and testing facility that will provide up to 5,000 new direct employment to the area. The facility would require a total investment of $2.75 billion, according to the business, of which 50% will come from the Indian central government and 20% from Gujarat.
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