Microchip Technology to invest $65 mn in India

Bangalore, August 29: One of the leading providers of micro-controller and analong semiconductors, Microchip Technology Inc., on Friday announced that it would invest USD 65 million in India over the next five years.

The investment was expected to create 300 new jobs at its wholly-owned facility, the India Development Centre located at Whitefield on the city outskirts, Microchip Technology Executive Vice-President Ganesh Moorthy told reporters in Bangalore after the formal inauguration of the Centre.

“The investment is our reaffirmation to long term growth in R & D and sales in India”, he said.

At its facility in Bangalore, the company, with over USD one billion in sales last year,focuses on new product development, enhancing its IT capability, customer support and application areas to grow business in India and strengthen R&D activities, he said.

“Not only are we impressed by the quality of the workforce available in India, we also see opportunity in the emergence of many Indian Companies as global powerhouses in the development of embedded systems”, Moorthy said.


Courtesy:expressindia.com
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