$300 million to be invested by Microchip Technology to expand in India

Microchip Technology Inc, a global leader in microcontroller solutions, has inaugurated a new research and development (R&D) facility in Hyderabad, India. In addition, the company has announced a substantial investment of $300 million over the next few years to expand its operations in the country.The investment will encompass the establishment of new engineering labs, talent acquisition efforts, and support for regional technology consortia and educational institutions. Furthermore, Microchip will enhance its existing facilities, including R&D centers in Bengaluru and Chennai, as well as sales offices in Bangalore, Chennai, Hyderabad, Pune, and New Delhi.The newly inaugurated development center in Hyderabad is situated in the Kokapet business district and spans 168,000 square feet, providing space for approximately 1,000 employees. Ganesh Moorthy, President and CEO of Microchip, expressed the company's strategic commitment to India's growth, recognising the country's significant role as a source of business and technical resources in the semiconductor industry. Microchip's investments aim to capitalise on India's expanding presence in the global semiconductor landscape while contributing to its development.Microchip joins other prominent American tech firms in bolstering their presence in India. This announcement follows Prime Minister Narendra Modi's recent visit to the United States, during which major semiconductor companies such as Micron Technology, Applied Materials, and Lam Research committed to investing in India's emerging semiconductor industry.