INDIA BUSINESS WORLD - DECEMBER 2005
THE MONTH THAT WAS

INTEL LINES UP $1-BILLION INDIA PLAN

Intel Corporation on announced a phased investment plan for India, totalling over a $1 billion. This includes $800 million, spread over five years, for expanding business operations. The chip maker also announced the settingup of a $250-million venture capital fund for funding software and technology companies in India.

“We will grow our local operations, boost venture capital investment and work closely with the government, industry and educators to increase the impact of the country's information and communication technology,” Intel chairman Craig Barrett told reporters.

He was, however, non-committal on manufacturing plans for India.
“We are still in discussion with the government on the possibility of setting up a manufacturing plant in India. At this point of time we are not ready to announce anything. We are seeking support from the local governments,” he said.
Intel would focus on expanding the Bangalore R&D centre, in addition to marketing, education and community programmes. The company, however, refused to say anything about the likely growth in headcount at its Bangalore centre.