Lam Research Invests Billions in India's Semiconductor Industry
Lam Research, a leading US-based chip toolmaker, has announced plans to invest over 100 billion rupees ($1.2 billion) in India's southern state of Karnataka.
This significant investment aligns with India's goal to enhance its semiconductor ecosystem. During the 'Invest Karnataka' event, Lam Research signed a memorandum of understanding (MoU) with the Karnataka Industrial Area Development Board (KIADB) to facilitate the investment.
Prime Minister Narendra Modi's government has actively supported India's emerging chipmaking industry through various initiatives, including a $10 billion incentive package. The Indian semiconductor market is projected to grow to $63 billion by 2026.
Global chip companies are increasingly investing and setting up facilities in India, which aims to become a competitive hub in the semiconductor industry alongside Taiwan and other major players.
Lam Research's investment has been hailed as a major milestone in India's semiconductor journey. The Fremont, California-based company specializes in developing tools crucial for semiconductor manufacturing, primarily used in wafer processing and wiring of semiconductor devices.
Karnataka, home to the IT hub of Bengaluru, is a significant contributor to India's economy and exports software, IT services, and manufactured goods.