Applied materials says Bengaluru chipmaking centre to rake in $2 billion
Applied Materials India
plans to build a centre for chip making in Bengaluru, which has the potential to attract over $2 billion in investments in the future, Suraj Rengarajan, managing director and head of semiconductor products group, Applied Materials India, told ET. His comments come three weeks after Karnataka's cabinet sub-committee approved three semiconductor projects in the State, including Applied Materials'. The company is currently investing $400 million over four years in the facility.
"Our plan is to build Innovation Center for Semiconductor Manufacturing (ICSM) in India, designed to catalyse over $2 billion in investments, create
high-tech opportunities
, and accelerate
semiconductor innovation
," Rengarajan said.
Another American chip equipment maker
Lam Research
will also be setting up two units in Karnataka: an advanced R&D lab with an investment of ₹6,790 crore, and a semiconductor silicon component manufacturing facility with an investment of ₹9,111 crore, creating 1400 jobs, delivering cutting-edge capabilities in 2nm technology and silicon ingot production.
In a statement to ET, the company said, "To maintain proximity to our customers, Lam Research evaluates opportunities to expand our presence at key locations around the world on an ongoing basis. As previously announced, this includes India, where we have had a significant presence for 25 years, as well as other locations across the United States, Asia, and Europe."
"Applied Materials India will set up a first-of-its-kind
R&D fab in Bengaluru
. Spread across 10 acres with ₹4,851 crore investment, it will create 1,500 jobs and become a collaborative platform for next-gen chip and display innovations," Karnataka IT minister Priyank Kharge had said on May 28 last month.
ICSM will unite engineers, suppliers, and academia to develop next-generation manufacturing technologies, while training the talent required for India's expanded role in the global semiconductor ecosystem, Rengarajan said. A key component of this initiative is our academic outreach programme specifically designed to address high-value semiconductor challenges, he said.
By engaging leading academic institutions like the IITs with practical problem statements, the programme aims at accelerating the development of innovative solutions for the semiconductor equipment industry.
As an R&D lab for next-generation manufacturing equipment technology, it will provide a critical environment for testing and processing equipment sub-systems, replicating real-world fab conditions. "Co-creation and co-innovation with our customers and ecosystem partners at ICSM will drastically cut R&D time, speed up time-to-market, and accelerate component commercialisation," he said. The center will enable full product development capabilities for India as well as the world, he added.
To recall, the company's India Validation Center (IVC), which has demonstrated the capability to process 300-mm wafers – a first for private industry in India was commissioned in March last year.
Delhi-based
Bharat Semi Systems
is also establishing an integrated design manufacturing semiconductor unit including both a design and fab facility in Mysuru with ₹2,342 crore investment. It will focus on compound semiconductors like silicon carbide and gallium nitride—critical for defence, telecom and climate resilience creating more than 620 jobs, as per Karnataka state government. ET could not reach company founders Vinayak Dalmia, and Vrinda Kapoor.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
8 minutes ago
- Time of India
Tesla plans to expand charging network in Delhi, Mumbai, Bengaluru
Academy Empower your mind, elevate your skills American electric vehicle maker Tesla plans to expand its super charging network in Delhi-NCR, Mumbai and Bangalore as it plans to start deliveries in India by September, a senior company official said on company, which opened its second experience centre in India at Aerocity here in the national capital, plans to have supercharging stations in Gurugram and Noida, besides one more in Saket, Tesla Regional Director (South East Asia) Isabel Fan said here at the opening company had opened its first experience centre in Mumbai last month, along with the launch of its Model Y with a price starting at Rs 59.89 and Mumbai are priorities for the company, she said, adding, in the next few weeks, the company will open its supercharging station in Gurugram to be followed by others in Saket (South Delhi) and the Mumbai area, Tesla is planning to set up supercharging stations at Lower Parel, Navi Mumbai and Thane to add to the existing one at Bandra Kurla Complex, Fan added."The other new market, new states... We cannot miss Bangalore very soon," she said, adding, "we don't commit five-year plan that we cannot deliver. So whatever we share is a commitment in the upcoming (period)." Fan also said the company will soon launch its mobile service, remote diagnostics, service centre and Tesla Approved Collision Centre in India.
Mint
8 minutes ago
- Mint
The American fighting to pry his company back from the Kremlin's grasp
American businessman Leonid Smirnov first got the feeling that something was off when local Russian newspapers began airing rumors that the government was looking at taking over his company, the biggest producer of canned goods in the country. It was only when he received a phone call from an employee at 3:30 a.m. at his Los Angeles residence last October that he found out for sure that Russian President Vladimir Putin had ordered the nationalization of Glavprodukt. His was the first U.S.-owned company to fall victim to what is now a mounting wave of Kremlin business seizures. For nearly a year, Smirnov says, he has been embroiled in an absurd legalistic circus. His experience provides a glimpse into the nationalizations and appropriations of both domestic and foreign business after Putin unleashed the full-blown invasion of Ukraine three years ago in what has been the biggest redistribution of Russian wealth since the breakup of the Soviet Union. In many cases, the Kremlin transferred control to state-run enterprises or businessmen loyal to Putin, deepening his support base, analysts say. Companies from German utility Uniper to Danish brewer Carlsberg have been targeted. French food manufacturer Danone's Russian assets were placed under temporary state management in 2023 and later sold to a Kremlin ally at a significant discount. Russia's government has often justified the seizures on national-security and legal grounds or as a response to new sanctions from the West. The nearly 300 U.S. companies still operating in Russia remained untouched—until now. Since his early-morning call, Smirnov has fought moves against him in court. He has also tried to push the fate of the company onto the negotiating table between Russian and U.S. officials seeking to make good on President Trump's efforts to seek some thaw in relations. But so far to no avail: A Russian court approved the nationalization last month. Smirnov's legal appeal has yet to be decided. 'It's not just about doing what I can to save my company which was illegally and heinously expropriated, but making sure there isn't a second or a third U.S. company," said Smirnov. Russia's manic post-Soviet privatizations once drove Western businessmen into the country with the promise of fantastic returns. Local companies also ran up against organized crime and a spate of gangland killings, which later subsided when Putin rose to power in 2000. Now many of the foreign investors who survived are seeing their businesses expropriated as ties with the West worsen. The total value of property confiscated from foreign and local investors has reached 3.9 trillion rubles, or about $49 billion, according to the Moscow-based law firm Nektorov, Saveliev & Partners, with the pace of nationalizations accelerating this year. Many of these assets have then been transferred to business owners big and small, all united in their loyalty to Putin's regime. Smirnov was born in the Soviet Union before moving to the U.S. in 1980. He founded Glavprodukt in 1999, lured by a vast Russian market opening up to Western consumerism. Smirnov focused on tinned meats, fish and ready-to-eat meals, and as the company grew, its offerings became a staple in the stores to which the country's working classes flocked. With its loyal customer base, his company survived the ups and downs of Putin's rule. But in the weeks that followed the nationalization decree, Smirnov watched from the U.S. as new management came into the offices, changing locks and passwords and even hiring a new private security firm to keep watch over the company's headquarters and factories. Loyal employees were fired and a new cadre of managers were brought in. To justify the nationalization, the new management promised to repurpose the company to feed the Russian army and boost exports to China and North Korea. A general manager was appointed at the behest of a large food producer called Druzhba Narodov, or Friendship of Peoples. That raised Smirnov's suspicion that behind the raid is that company's ultimate owner, Alexander Tkachev, a former minister of agriculture and governor of Russia's southern Krasnodar region. Druzhba Narodov didn't respond to a request for comment. Tkachev has been sanctioned by both the U.S. and the European Union. As Russian soldiers have occupied swaths of southern Ukraine, he has also been behind some of the biggest Russian appropriations of Ukrainian farmland. As the new manager, Alexander Dolgov, and other management leaders settled into their roles, Dolgov told the prosecutor in a court case against Smirnov that the nationalization of the company would ensure continued deliveries of food to Russia's Defense Ministry as well as the country's equivalent to the National Guard. In reality, the new management has cut and consolidated production lines, discontinued popular brands and caused sales to fall by half, Smirnov said. Smirnov's U.S.-based companies Universal Beverage and Universal Beverage 2000 were the owners of Glavprodukt. 'They want to use government cover to confiscate a $200 million business from an American company," said Smirnov. Smirnov, an American citizen who has a signed copy of 'The Art of the Deal" he got from Trump at a reception 30 years ago, has hope that the U.S. president can force Putin's hand to return ownership of the company. In interviews with Breitbart, Secretary of State Marco Rubio said previously that Glavprodukt was going to be a topic of discussion at talks, and Trump said in March he thought Putin would be 'generous" on the issue of the company. So far, the Kremlin hasn't offered to resolve the matter. Russia's presidential administration didn't respond to a request for comment. Since the start of Moscow's full-scale invasion of Ukraine, nearly 500 U.S. firms have completely exited Russia or curtailed operations there, cutting ties with a market of 140 million people, according to a tally by the Kyiv School of Economics. Smirnov's story offers a cautionary tale for the U.S. companies that remained, citing contractual obligations, ongoing projects or a need to protect local employees. 'We are far from the end of the process of redistribution of property, of establishing rules of business in today's Russia," said Alexandra Prokopenko, a fellow at the Carnegie Russia Eurasia Center and a former Russian central-bank official. 'This preserves the system and makes business hostage to Putinism, and the new class of owners is well aware of whom it owes its wealth to." It may also offer a warning for U.S. companies tempted by Putin as he holds out the prospect of better relations with Trump and urges them to return. Write to Thomas Grove at and Georgi Kantchev at
Economic Times
8 minutes ago
- Economic Times
Tesla plans to expand charging network in Delhi, Mumbai, Bengaluru
Agencies American electric vehicle maker Tesla plans to expand its super charging network in Delhi-NCR, Mumbai and Bangalore as it plans to start deliveries in India by September, a senior company official said on Monday. The company, which opened its second experience centre in India at Aerocity here in the national capital, plans to have supercharging stations in Gurugram and Noida, besides one more in Saket, Tesla Regional Director (South East Asia) Isabel Fan said here at the opening event. The company had opened its first experience centre in Mumbai last month, along with the launch of its Model Y with a price starting at Rs 59.89 lakh. Delhi and Mumbai are priorities for the company, she said, adding, in the next few weeks, the company will open its supercharging station in Gurugram to be followed by others in Saket (South Delhi) and Noida. In the Mumbai area, Tesla is planning to set up supercharging stations at Lower Parel, Navi Mumbai and Thane to add to the existing one at Bandra Kurla Complex, Fan added. "The other new market, new states... We cannot miss Bangalore very soon," she said, adding, "we don't commit five-year plan that we cannot deliver. So whatever we share is a commitment in the upcoming (period)." Fan also said the company will soon launch its mobile service, remote diagnostics, service centre and Tesla Approved Collision Centre in India. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. 3 years on, Akasa's next challenge: Staying in the air against IndiGo's dominance Jane Street blow pushes Indian quants to ancient Greek idea to thrive Berlin to Bharuch: The Borosil journey after the China hit in Europe FIIs are exiting while retail investors stay put. Will a costly market make them pay? Stock Radar: TVS Motor breaks out from 1-month consolidation to hit fresh high; time to buy or book profits? FMCG sector: Both a consumption & tactical play; 7 stocks that have an upside potential of up to 30% F&O Radar| Deploy Short Strangle in Nifty for Theta decay benefits within index range These large- and mid-cap stocks may give more than 25% return in 1 year, according to analysts
