On Thursday, Applied Materials, a US semiconductor toolmaker, announced that it will invest $400 million over the course of four years in a new engineering center in India.
On Wednesday, Indian Prime Minister Narendra Modi met with the company’s CEO Gary Dickerson in Washington and urged Applied to help strengthen the country’s semiconductor (chip) industry.
This week has had a flurry of announcements which include General Electric’s agreement to jointly produce military jet engines with state-owned Hindustan Aeronautics Ltd and data storage chipmaker Micron’s $825 million (roughly Rs. 6,760 crores) investment to build a new factory in India.
Modi also had a meeting with Tesla CEO Elon Musk on Wednesday, who said that the company will aim to be in India “as soon as humanly possible.”
According to Applied, the new center would be situated near the company’s existing plant in Bengaluru and will support more than $2 billion in planned investments and create 500 new advanced engineering jobs.
Presently, Applied has six locations in India and collaborates closely with two of the country’s most famous institutions, the Indian Institute of Science in Bangalore and the Indian Institute of Technology in Mumbai.
Micron, a US chipmaker, also announced on Thursday that it will invest up to $825 million in a new chip manufacturing and testing facility in Gujarat, India, which will be its first in the country.
Micron stated that the overall investment in the facility will be $2.75 billion with backing from the Indian national government and the state of Gujarat. The Indian national government will contribute 50% of the total, with the state of Gujarat contributing 20%.
Micron stated that building on the new facility in Gujarat will begin in 2023, with the first phase of the project slated to be operational in late 2024.