Microchip Technology Incorporated, a prominent provider of smart embedded control solutions, has unveiled a multi-year investment initiative worth approximately $300 million aimed at expanding its operations in India. This move comes as India solidifies its position as one of the world’s fastest-growing semiconductor industry hubs.
Ganesh Moorthy, the President and CEO of Microchip, emphasized the company’s strategic commitment to India, acknowledging the country’s significant growth and its status as a top source of business and technical resources in the semiconductor sector. The investment will enable Microchip to capitalize on India’s expanding role in the global semiconductor industry while contributing to its development.
Microchip’s planned investments primarily focus on enhancing its existing facilities in Bangalore and Chennai. Furthermore, the company inaugurated a new research and development center in Hyderabad during a ceremony held today. Microchip also aims to expand and upgrade its engineering labs to cater to the increasing technical and business support requirements of its expanding customer base in India. Additionally, the company plans to accelerate hiring to tap into the country’s growing talent pool.
In line with its commitment to supporting the local ecosystem, Microchip will sponsor technical consortia and provide assistance to academic institutions and programs. The company also intends to launch various Corporate Social Responsibility (CSR) initiatives tailored to regional needs.
Microchip currently employs approximately 2,500 individuals in India, playing integral roles in semiconductor design and development, sales and support, IT infrastructure, and application engineering operations. These employees contribute to over 25 business units within Microchip, which develop solutions for a wide range of industries including industrial, automotive, data center, aerospace and defense, communications, and consumer sectors. Microchip’s investments over the past 25 years have helped establish India as a center of excellence for engineering deliverables and solutions, significantly contributing to the company’s global success.
Krishna Moorthy, President and CEO of the India Electronics and Semiconductor Association (IESA), praised Microchip’s sustained progress in India. Moorthy highlighted the company’s role in bolstering the Indian semiconductor market and its commitment to continued growth in the country.
According to reports from IESA and Counterpoint Research, India’s semiconductor market is expected to reach $64 billion USD by 2026, nearly tripling its size in 2019. The Semiconductor Industry Association (SIA) also noted in its February 2023 India Semiconductor Sector white paper that India currently accounts for 20 percent of the global design workforce. Recognizing India’s potential as a major hub for semiconductor research, chip design, and equipment engineering, IESA and SIA announced plans to further unlock the country’s future prospects in January 2023.
Microchip’s multi-year investment initiative aligns with India’s burgeoning semiconductor industry, promising to bolster the country’s position as a vital player in the global semiconductor landscape. With its strategic investments, Microchip aims to capitalize on India’s growing talent pool, foster innovation, and contribute to the country’s technological advancement.
