AMD will invest US $400 million in India in 2028 to build its largest design center

CTOnews.com, July 28 (Reuters)-Mark Papermaster, chief technology officer of AMD, announced at the annual semiconductor conference that AMD will invest about $400 million in India over the next five years and will build its largest design center at the Bangalore Technology Center.

AMD said it would open a new design center park in Bangalore by the end of this year and create 3000 new engineering jobs within five years.

CTOnews.com learned from Reuters that AMD's new campus covers an area of 55555 square feet, increasing the number of its offices in India to 10 and currently employs more than 6500 people in India.

Despite its late entry, the Modi government has been seeking investment in India's burgeoning chip industry. It is worth mentioning that India launched a $10 billion incentive package for the chip industry in 2021, but so far no company has been able to get permission to build a manufacturing plant, which is at the heart of Mr Modi's plans to join the chip.

Insiders say ISMC, a chip consortium that uses Israeli chipmaker Tower as a technology partner, plans to invest in a $3 billion semiconductor plant in India, but the plant has been shelved because of continued acquisitions by Intel. India expects its semiconductor market to be worth $63 billion by 2026.