The Netherlands-based chip design and manufacturing company NXP Semiconductors on Wednesday said the company will invest over $1 billion (Rs 8,400 crore) in India in the next few years as it looks to expand its research and development (R&D) efforts.
“NXP is committed to double its R&D efforts here in the country in the next few years, which is far in excess of a billion dollars,” the company’s CEO Kurt Sievers said at the Semicon India 2024 event in Noida.
Comments from Sievers have come at a time when globally companies are looking to expand their presence in India with regard to semiconductor manufacturing, assembly, design and research and development.
India is one of NXP’s largest design centres. The company’s centre of excellence functions from four sites across India with more than 4,000 engineers and over 500 patents. The team in India specialises in various domains like system on chips (SoC), IP and system-level design, firmware/software, validation and design enablement.
“We are here engaged with system designers, the whole industry, in the automotive sector, in the industrial sector, and that is going to make India extremely powerful as an economy far beyond semiconductors,” Sievers said.
At the Semicon India event, Prime Minister Narendra Modi said the contribution of about 20% of chip designing talent to the industry is growing and the government is preparing an 85,000-strong semiconductor workforce of technicians, engineers and R&D experts.
In India, NXP is looking at system design, artificial intelligence, software, and hardware competencies. Earlier, the company also talked about its plans to apply for the chip design linked scheme once the government opens it up to multinational companies.
From: financialexpress
Financial News
