Microchip plans $300M investment in India to expand operations
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Microchip Technology (NASDAQ:MCHP) is planning to invest about $300M to expand its operations in India.
The investments will be focused on improvements to the Microchip's Bangalore and Chennai facilities and a new research and development (R&D) center in Hyderabad which the company inaugurated in a ceremony on Monday.

The relocated Hyderabad R&D center in the Kokapet business district's One Golden Mile office tower has a capacity for 1,000 employees.
The $300M investment is also aimed at expanding engineering labs, increasing hiring, and launching several corporate social responsibility (CSR) programs, among other things.
"Our investments here will enable us to both benefit from and contribute to the countryâs increasingly important role in the global semiconductor industry," said Microchip's President and CEO Ganesh Moorthy.
MCHP +0.46% to $90 premarket July 3

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