American semiconductor toolmaker Applied Materials announced that it would invest $400 million over four years in a new engineering facility in India.
In a meeting with the company’s CEO Gary Dickerson on Wednesday in Washington, Indian Prime Minister Narendra Modi invited Applied to support the nation’s semiconductor industry.
This week has seen a rush of announcements, including General Electric’s agreement to collaborate with state-owned Hindustan Aeronautics Ltd to create military aircraft engines and data storage chipmaker Micron’s $825 million commitment to establish a new factory in India.
Modi also met Tesla CEO Elon Musk after which the automaker’s top boss said the company will try to be in India “as soon as humanly possible.”
The new center is expected to be located near the company’s existing facility in Bengaluru and is likely to support more than $2 billion of planned investments and create 500 new advanced engineering jobs, the company said.
