U.S. chipmaker AMD to invest $400 mn in India; Vedanta to start chip making in 2.5 yrs

U.S. chipmaker Advanced Micro Devices (AM) on Friday announced a $400-million investment in India over the next five years and said it will build its largest design centre in Bengaluru.

U.S. chipmaker Advanced Micro Devices (AM) on Friday announced a $400-million investment in India over the next five years and said it will build its largest design centre in Bengaluru.

AMD chief technology officer Mark Papermaster made the announcement at the annual semiconductor conference in the presence of Prime Minister Narendra Modi.

Undeterred by Taiwan's Foxconn pulling out of his group's $20 billion semiconductor-making venture, mining baron Anil Agarwal said the first phase of Vedanta's chip-making project will be ready in two-and-a-half years.

Hon Hai Technology Group, also known as Foxconn, earlier this month pulled out of the chipmaking joint venture with Vedanta, and said it intends to apply for incentives under the government's semiconductor production plan.

Vedanta Ltd. has lined up partners and will begin a foray into chip-making this year.

Speaking at the conference, Foxconn chairman Young Liu said the ecosystem for semiconductors in India is for the "very brave".

"The ecosystem for chips in India is for the very brave. Every experience only positions companies stronger going forward," he said, without making any direct comment on the Vedanta joint venture.