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INTEL IN INDIA
Intel to splurge over $1 billion in India
NEW DELHI: The world’s largest chipmaker is having mega plans for the world’s largest democracy, which boasts of a massive pool of techies. Intel announced a war-chest of more than $1 billion for its ambitious India plans on Monday.
Intel Chairman Craig Barret said on Monday that the firm plans to increase its local operations and boost venture capital investors.
The Intel chief said the investment demonstrates his firm's long term commitments and "builds on the foundation we created during the last ten years".
“ We will work closely with the government, industry and educators,” Barrett told reporters.
Around $ 800 million of the $ billion will be invested for research and development. The rest will be routed to its venture capital for India which will focus on cellular, broadband and wireless technology start-ups”.
"Through the Intel Capital India Technology Fund, Intel will help Indian companies drive technology adoption locally and identify new business opportunities globally," Intel Chairman Craig Barrett said while announcing the setting up of the venture capital fund.
The fund would invest in firms that could exploit the growth in information technology in India, an Intel release said.
At present, Intel runs a development centre in Bangalore, the technology capital of the country in the southern Indian state of Karnataka.
The Intel centre is engaged in developing and designing software chips on which runs computers and backs internet-based applications. The Bangalore centre of Intel employs around 2,800 people.
Union Minister for Communication and Information technology, Dayanidhi Maran, had been actively wooing global majors to invest and set up facilities in India. Barret had a meeting with Maran in Chennai on Sunday.
Sources also said the world’s leading chipmaker plans to set up a factory to produce low cost personal computers to satisfy the country’ s growing appetite for computerisation.
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