Intel to Invest Over $1bn in India

Chipmaker Intel has announced a $1 bn-plus, multi-year

investment roadmap for India. Unveiling the investment plans, Intel chairman

Craig Barrett said, "We plan to invest $800 mn over the next five years to

expand business operations in India. Investments will focus on expanding the

R&D center in Bangalore in addition to marketing, education and community

programs." He also announced the creation of the $250 mn Intel Capital

India Technology Fund to help stimulate local technology innovation and growth.

"The investments will focus on Indian hardware and

software companies to nurture technology development for the local use. The fund

will also selectively invest in technology-oriented service companies that

target overseas markets," he added. Till now, Intel Capital has provided

funding to more than 40 companies in seven Indian cities since it started

investing in 1998.

President of Intel Capital Arvind Sodhani said, "The fund is expected to

accelerate IT adoption and entrepreneurial drive in India. We are interested in

investing in sectors such as broadband application, wireless technology."