Intel says it will invest more in India
Monday, November 28th 2005, 10:56 am
By: News On 6
NEW DELHI (AP) _ Intel chairman Craig Barrett says the chip-maker will invest more than a (b) billion dollars in the next five years to expand its operations in India and in local technology companies.
Barrett says the investment will include a 250 (m) million dollar venture-capital fund which Intel has created for investing in Indian companies to benefit from rapid growth in the country's information-technology market.
Santa Clara, California-based Intel currently has a design center in Bangalore, India's technology hub. There, it employs some three-thousand engineers and professionals to develop products at a fraction of U-S costs. Intel will invest 800 (m) million dollars to expand its research and development center in Bangalore.