Applied Materials, a materials engineering solution and one of the largest manufacturers of semiconductor display equipment in the world, has announced a cumulative investment of Rs 1,800 crore in India over the next few years.
Applied Materials India recently invested $ 50 million to buy land in Whitefield, Bangalore, where the company plans to expand its technical infrastructure and support the next phase of our growth. “We expect this investment to support future product development and R&D, as well as benefit the development of the local supply chain,” said Srinivas Satya, President and CEO of Applied Materials India.
In addition, the company is currently investing Rs 340 crore in India and will invest an additional Rs 1,500 crore over the next few years.
Speaking at the SemiconIndia 2022 conference, he also added that the company plans to expand its infrastructure in the country.
“Applied Materials is pleased to be part of the Semicon India Conference and join the Government’s vision to make India an electronics hub by supporting the new India’s semiconductor and display policies. The Government’s mission mode approach to developing the country’s semiconductor sector, Ease-of-Business initiatives and the upscaling of domestic electronics final production are positive and practical steps to enable India’s Semiconductor Mission. ”
Applied Materials has been in India for the past 20 years and has a team of over 6,000 workers working from India, representing a key part of Applied’s product development, operations and information technology services.
To achieve its decades-old dream of gaining commercial fabs in India, the government has announced a financial outlay of Rs 76,000 crore in December 2021. Industry veteran Vinod Dham had told Business Today that this top-down approach will make India’s dream come true to reality. “It’s a very, very well thought out strategy and approach that the current administration shows they have done, and that’s what makes it so much more real this time.”
India’s semiconductor consumption will reach $ 80 billion by 2024-26 and $ 110 billion by 2030.