NXP Semiconductors India to invest $324 million in Indian Subcontinent

NXP Semiconductors India to invest $324 million in Indian Subcontinent

NXP Semiconductors India has said that they plan to invest as much as $324 million to set up an R&D facility and sales team in the sub-continent.

The group is part of the NXP and they would be investing about $6.3 million to build a R&D facility in Bangalore this year. The rest would be invested in the Indian market to expand their presence in the Indian market.

NXP Semiconductor India managing director Rajeev Mehtani said in a statement: “The R&D operations will work on state-of-the-art chip design, and embedded software and systems. About 650 high-end engineers of Philips Semiconductor division will shift to the new entity from October.”

Mehtani added: “We will extend our software partnerships to 20 vendors from the present five partners to work on projects related to our Nexperia home and mobile platforms.”