L&T joins semiconductor race, to create chip firm and invest over $300 mn

Larsen & Toubro Ltd. plans to invest more than $300 million to create a chip company, joining other Indian conglomerates in a push to build out a semiconductor industry in the world’s most populous country.

The tech-to-construction company will spend the money over three years to establish a fabless chipmaker, which designs and sells semiconductors but contracts out their production. It plans to design 15 products by the end of this year and start sales in 2027, Sandeep Kumar, head of L&T Semiconductor Technologies, said in an interview.