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Intel to invest $1bn in India

Leading chipmaker Intel Corporation announced a multi-year investment plan for India, totalling over $1 bn, including $800 mn over the next five years for business expansion.

The investment roadmap includes a huge chunk ($800 mn) for expanding the company's business operations in India, Intel Chairman Craig Barrett said.

The investment would focus on expanding the research and development centre in Bangalore, in addition to marketing, education and community programmes.

The investment roadmap also has a provision for setting up a $250 mn venture capital fund in India.

"The investment demonstrates the company's long term commitments and builds on the foundation we created during the last ten years," Barrett said.

"We will grow our local operations, boost venture capital investment and work closely with the government, industry and educators to increase the impact of the country's information and communication technology," he added.

(www.financialexpress.com)

 
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