NXP Semiconductors, a Dutch chip designer and manufacturer, is planning to allocate a significant portion of its $1 billion R&D investment to Karnataka, state's large and medium industries and infrastructure minister MB Patil has said.
A Patil-led delegation is visiting Europe to drum up support for the Invest Karnataka Global Investors Meet in February.
Also, read: Union govt should not dictate to semiconductor companies on where to invest: Karnataka minister MB Patil
"Had a fruitful meeting with Maurice Geraets, Executive Director at NXP, the third-largest European semiconductor manufacturing and design company. We discussed the company’s future plans and the pivotal role India, particularly Karnataka, will play in its R&D journey. Maurice shared that a significant portion of NXP's $1 billion investment in R&D will be directed towards our state over the next five years," the minister posted on the X platform.
He said he assured NXP the full support of the Karnataka government and invited Geraets and his team to the investor summit.
Speaking at the CNBC-TV18 and Moneycontrol Global AI Conclave last month, Patil accused the the Centre of diverting semiconductor investments away from Karnataka. "Semiconductor investments in India are being steered by the Union government. Many companies approached us — they came here, met with us, and then went to Delhi. However, they did not return," he claimed.
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