Semicon India 2022 Karnataka

US-based Applied Materials acquires land in Bengaluru for ₹350 crore

Union Minister of Electronics and Information Technology, Communications and Railways Ashwini Vaishnaw visiting stalls at Semicon India 2022 - Catalyzing India’s Semiconductor Ecosystem, in Bengaluru on April 29, 2022.

Union Minister of Electronics and Information Technology, Communications and Railways Ashwini Vaishnaw visiting stalls at Semicon India 2022 - Catalyzing India’s Semiconductor Ecosystem, in Bengaluru on April 29, 2022. | Photo Credit: MURALI KUMAR K

California-based Applied Materials has invested ₹350 crore ($50 million) to purchase land in Whitefield in Bengaluru where it is planning to expand its engineering infrastructure.

The company said the expansion would boost its next phase of growth in India.

“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, country president and Managing Director, Applied Materials India at Semicon India 2022 in Bengaluru on April 29.

Indian Government’s mission mode approach to evolve the country’s semiconductor sector, together with the ease-of-business initiatives and scaling up of indigenous electronics end-manufacturing, were positive and practical steps to enable its Semiconductor Mission, he added.

Applied Materials supplies equipment, services and software for the manufacture of semiconductor (integrated circuit) chips for electronics, flat panel displays for computers, smartphones, televisions, and solar products.


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Printable version | Jun 24, 2022 2:04:31 am | https://www.thehindu.com/news/national/karnataka/applied-materials-acquire-land-in-state-for-350-cr/article65368080.ece