Semiconductor Major NXP To Invest $1 Bn In India To Expand R&D

Semiconductor Major NXP To Invest $1 Bn In India To Expand R&D

SUMMARY

NXP CEO Kurt Sievers said that the planned capital infusion will likely be utilised to double down on the company’s research and development efforts

He added that NXP is in talks with Indian companies in the automotive sector and other sectors to expand its partner base

This comes on the same day as PM Modi announced a special reserve fund with an outlay of INR 1 Lakh Cr to drive innovation in the semiconductor sector

NXP CEO Kurt Sievers on Wednesday (September 11) said that the Dutch semiconductor design company will invest more than $1 Bn in India over the next few years. 

Speaking at Semicon India 2024, Sievers said that the planned capital infusion will likely be utilised to double down on the company’s research and development (R&D) efforts. 

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