NXP to Invest $1 Billion in India to Boost R&D

• NXP CEO Kurt Sievers announced a $1 billion investment in India to enhance R&D efforts.
• The company is in talks with Indian automotive and other sector companies to expand partnerships.
• PM Modi revealed a special reserve fund of INR 1 Lakh Cr to drive semiconductor innovation.
• NXP has been operational in India for 50 years with four design centers and 3,000 employees.
• The investment aims to make India a powerful economy and a key player in the semiconductor sector.

Source: Inc42