US chip equipment maker Applied Materials said at SEMICON India in New Delhi on September 17 it will invest US$5 billion in India over the next decade.

The investment will focus on research, supply chain expansion, and workforce growth.

The three-day event drew more than 600 companies and representatives from 52 countries as India pitched itself as a “trusted partner.”

The event comes as countries race to build chip production capacity and face rising trade tensions.

India has committed more than US$21 billion through two semiconductor incentive programs.

Three chip-packaging plants have begun commercial production, including one run by US-based Micron Technology, a memory chip maker.

However, India has yet to produce a single chip from a large-scale fabrication plant.

Commercial production at Tata Electronics‘ US$10 billion fab project in Gujarat has been delayed by nearly two years.

🔗 Source: Reuters

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