The company is capitalizing on the country’s growing importance in the global semiconductor industry.
Microchip Technology, a leading semiconductor supplier of smart and secure embedded control solutions, has announced a major long-term initiative to invest approximately US$300 million in expanding its presence in India.
Recognizing India’s status as one of the fastest-growing semiconductor industry hubs globally, Microchip aims to leverage the country’s large business and technical resources. The company’s solutions are utilized by over 125,000 customers spanning various industries, including industrial, automotive, consumer, aerospace and defense, communications and computing.
“Our investments here will enable us to both benefit from and contribute to the country’s increasingly important role in the global semiconductor industry,” said Ganesh Moorthy, President and CEO of Microchip.
Fostering growth and innovation
The Arizona-headquartered company is concentrating its investments on several key areas. These include further enhancements to the Bangalore and Chennai facilities, as well as the inauguration of a new research and development center in Hyderabad. Microchip is also expanding and improving its engineering labs, aiming to meet the increasingly technical and business support demands of its expanding customer base in India.
In addition, Microchip plans to accelerate its hiring efforts to take advantage of the growing talent pool in India. The company is actively sponsoring technical consortia, supporting academic institutions and programs and introducing a range of Corporate Social Responsibility (CSR) initiatives that cater to the specific needs of the region.
Microchip’s operations in India rely on the expertise of around 2,500 employees who play crucial roles in various areas, such as semiconductor design and development, sales and support, IT infrastructure and application engineering. These employees are instrumental in bolstering corporate initiatives and assisting approximately 2,000 regional customers. Moreover, their valuable contributions span over 25 business units that focus on developing solutions for diverse industries including industrial, automotive, data center, aerospace and defense, communications and consumer sectors.
“Microchip’s investments in India over nearly two and a half decades have augmented its headcount growth, resulting in building a center of excellence for engineering deliverables and solutions for Microchip’s global success,” said Krishna Moorthy, President and CEO of the India Electronics and Semiconductor Association (IESA).
India’s semiconductor market set to soar
According to a report published by Deloitte, the Indian semiconductor market is projected to grow significantly, reaching a value of US$55 billion by 2026. The convergence of such optimistic market projections and Microchip’s proactive investment initiative signifies a strong belief in India’s potential to shape the future of the semiconductor industry on a global scale.
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