STMicroelectronics to expand operations in India

STMicroelectronics is one of the largest chipmakers in the European region and the company is now aiming to expand their presence in the Indian market.

The company would be investing up to $30 million in India and also double its work force in the country to 3,000 over the next three years.

Thierry Tingaud, STMicroelectronics’ corporate vice president for emerging markets added that they want to add another 1300 people to their workforce. He was speaking at the launching ceremony of their first made-in-India chip.

He further said: “We will be investing $20 million to $30 million in 2007 in India, mainly in constructions of design and development centers.”