NXP Semiconductors plans to invest $1B in India's R&D, targeting automotive sector growth.

NXP Semiconductors, a Dutch company, plans to invest over $1 billion in India to double its research and development efforts. CEO Kurt Sievers announced this at the Semicon India conference, emphasizing potential growth in the automotive sector. India aims for a $63 billion semiconductor market by 2026 and has introduced a $10 billion incentive package to attract global investments, with major firms like Nvidia and AMD already establishing a presence in the country.

September 11, 2024
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