NXP to invest over $1 billion in R&D in India over next few years, says company at Semicon India 2024

NXP Semiconductors plans to invest over USD 1 billion to double its research and development activities in India over the next few years, a top company official said on Wednesday. Speaking at Semicon India 2024, NXP Executive Director, President and CEO Kurt Sievers said the company is engaging with the whole industry, downstream in the automotive sector, industrial sector, which is going to make India extremely powerful as an economy.