Global chipmaking giant on Intel told CNBC-TV18 exclusively that, while it has no plans to actually manufacture semiconductor chips in India, it will, nevertheless, help build a chip ecosystem in the country.
Steven A Long, Intel's General Manager of Asia Pacific And Japan, said the company has already invested $8 billion in India and currently employs around 14,000 people here, reaffirming India's importance to the company.
"Intel is very committed to India; we have been for over 30 years — have over 14,000 employees here in India. At this point in time, we do not have any intention to get into the manufacturing realm, but we see ourselves doing a lot for the ecosystem," Long said.
On Tuesday, Long said his team was in in Delhi to meet a company called VVDN Technologies, with which it signed a memorandum of understanding to make Intel-based VVDN systems.
He said Intel the aforementioned $8 billlion investment in India's people. The company will also invest over $80 billion to help tackle the global chip shortage, which is only now easing.
"Around 1.4 billion people are ambitious, highly, highly educated, innovative and that is where we have chosen to invest in at this point in time — the 14,000 people that we have here. If you add our contract workers, that's over 25,000 people; over $8 billion of investments already in the country and again, we see India growing faster than many of the other countries and more investments to come," Long said.
Watch the video for full interview
First Published: Sept 27, 2022 5:08 PM IST
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