Chipmaker Infineon Technologies To Set Up GCC In GIFT City

Germany-based semiconductor manufacturer Infineon Technologies reportedly plans to set up a global capability centre (GCC) at the Gujarat International Finance Tec-City (GIFT City). 

As per The Hindu BusinessLine, Infineon CEO Jochen Hanebeck said the upcoming centre will support research and development (R&D) for semiconductor chip design, product software information technology, supply chain management, among others. 

“India is an important, strategic market for Infineon, presenting immense opportunities for growth. The market will become even more important in the future. We have set ourselves an ambitious target to achieve Euro 1 Bn in annual revenues in India by 2030,” Hanebeck reportedly added.

Meanwhile, Infineon India managing director Vinay Shenoy said that the centre will play a “crucial role in strengthening” Infineon’s global research and development (R&D) and digitisation initiatives. The GCC will employ 400 engineers, as per Shenoy. 

“This centre with 400 highly talented engineers will play a crucial role in strengthening Infineon’s Global R&D and digitisation initiatives, enabling us to drive cutting edge semiconductor solutions that shape the future of mobility, energy efficiency and security,” added Shenoy. 

It is pertinent to note that the semiconductor manufacturer already has a presence in Indian cities like Bengaluru, Noida, Pune and Vadodara.

This comes barely a month after the Gujarat government unveiled its GCC policy, which aims to attract INR 10,000 crore in investments and create 50,000 jobs.

This comes at a time when the union government has pushed the pedal on attracting global semiconductor giants to set up their units in the country. 

India’s Semiconductor Push: As the demand for chips soars, the union government has pulled all stops to make India into a semiconductor hub. As part of this, the Centre launched the INR 76,000 Cr Semicon India initiative in 2021 to incentivise companies to manufacture silicon semiconductor fabs, display fabs, compound semiconductors, among others in India. 

In 2022, the India Semiconductor Mission (ISM) was introduced to establish India as a global hub for electronics manufacturing and design. Capitalising on this, a slew of global giants like Micron, AMD, and Qualcomm lining up plans to invest in the country. 

As per Inc42 report, the Indian semiconductor market is projected to become a $150 Bn opportunity by 2030.

The Push For GIFT City: Spanning 886 acres between Ahmedabad and Gandhinagar along the banks of the Sabarmati River, GIFT City is part of India’s endeavor to establish a global financial hub. 

The City holds the distinction of being India’s first International Financial Services Centre (IFSC), which serves customers outside the domestic economy’s jurisdiction, handling cross-border flows of finance, financial products, and services.

As per the Economic Survey 2024-25, 60 entities were registered as fintechs in GIFT-IFSC as of September last year. Amid India’s push to become a global fintech leader, tech giants Infosys and Wipro are setting up fintech hubs in the GIFT city.