NXP to invest $1 billion to expand R&D operations in India

The Netherlands-based chip design and manufacturing company NXP Semiconductors on Wednesday said the company will invest over $1 billion (Rs 8,400 crore) in India in the next few years as it looks to expand its research and development (R&D) efforts.

“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,” the company’s CEO Kurt Sievers said at the Semicon India 2024 event in Noida.