NXP Semiconductors plans to invest more than $1 billion to double its research and development activities in India over the next few years, a senior company official said on Wednesday.
Speaking at Semicon India 2024, NXP CEO, President and Managing Director Kurt Sievers said the company is engaging with the entire industry from the automotive sector to the industrial sector which will make India an extremely powerful economy.
“In this context, NXP has committed to doubling its R&D efforts here in the country in the coming years, which far exceeds one billion dollars,” he said.
Sievers said NXP has been present in India for about 50 years.
“We have about 3,000 employees and engineers. We have designed some of the most innovative semiconductor devices in the world. In India, the transformation I am seeing now is that going forward, we will not only be working in India for the world, but we will also be working in India for India,” he said.
During the opening session, Renesas Electronics CEO Hidetoshi Shibata said the company has partnered with CG Power for the assembly and testing of the semiconductor plant.
He said Renesas plans to double its workforce in India by next year.
Tata Electronics CEO and MD Randhir Thakur said the semiconductor industry will be the foundation of ‘Viksit Bharat’ by 2047.
“We will create 50,000 jobs as part of this journey which is just the beginning. The semiconductor industry has a multiplier effect in job creation and every job in semiconductors will create 10 additional jobs in the ecosystem,” he added.
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