This Reuters article in eWeek says that Intel Chairman Craig Barrett has announced plans to invest $1 billion in India over the next five years “to strengthen [the company’s] research and development and invest in telecoms and technology start-ups.”
The chipmaker already runs an ample operation in Bangalore, which employs 2,800 people. Mr. Barrett said $800 million will be used to expand R&D, as well as marketing, education and community programs.
Likewise, its venture funding arm has plowed “more than $100 million” into 40 firms, such as NIIT Ltd., a tech training company, and Sasken Communication Technologies Ltd., which develops telecom software. Those types of investments will get a $250 million boost for “start-ups focusing on mobile communications, broadband applications and mobile commerce.”
Even though India — with many in its vast population enjoying rising incomes — is experiencing a boom in demand for electronics, plans for a chip manufacturing plant haven’t gotten past the discussion phase, according to Mr. Barrett.