Chipmaker NXP to invest $1 billion in India to boost research & development

NXP Semiconductors will invest as much as $1 billion in the Indian market in a bid to double down on its research and development capabilities, joining a growing base of global chipmakers who are betting on the country to set up design and capability centres.

“NXP is committed to double its R&D efforts here in the country in the next few years, which is far in excess of a billion dollars,” Kurt Sievers, CEO of NXP Semiconductors said at the Semicon India 2024 event.