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Applied Materials investment plan is Rs 1,800 crores in India

Applied Materials investment

Applied Materials investment plan in India

Applied Materials, a material engineering solutions company and one of the world’s top manufacturers of semiconductor display equipment, has announced a Rs 1,800 crore investment in India over the next few years. 
Applied Materials India has spent $50 million on land in Whitefield, Bangalore, where it expects to expand its technical infrastructure and support the company’s next phase of expansion. Srinivas Satya, Country President and Managing Director of Applied Materials India, says, “We expect this investment to help future product development and R&D, as well as benefit the development of the local supply chain.” 
Furthermore, the corporation is already investing Rs 340 crore in India and plans to invest another Rs 1,500 crore in the next years. 
He also mentioned that the corporation aims to develop its infrastructure in the country while speaking at the Semicon India 2022 conference.

“Applied Materials is glad to participate in the Semicon India Conference and to support the new India semiconductor and display policies, which will help the government achieve its aim of making India an electronics centre.”

Applied Materials

The government’s mission mode approach to developing the country’s semiconductor sector, as well as Ease-of-Doing-Business efforts and scaling up domestic electronics end-manufacturing, are all constructive and practical moves toward enabling India’s Semiconductor Mission.”

Applied Materials has a workforce of approximately 6,000 employees working out of India, comprising a significant component of the company’s product development, operations, and information technology services. 
The government has announced a budgetary outlay of Rs 76,000 crore in December 2021 to realize its decades-old aim of having commercial fabs in India. This Top-to-Down method, according to industry veteran Vinod Dham of Business Today, will make India’s ambition a reality.

“As the current government has proved, it’s a very well-thought-out plan and approach, and that’s what makes it feel so much more real this time.”

In the years 2024-2026, India’s semiconductor consumption will exceed $80 billion, rising to $110 billion by 2026. 

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