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."

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