Intel announces Rs 1,100 crore investment in Bengaluru

Bengaluru: Intel Corporation is investing Rs,1,100 crore ($170 million) in India to set up a new Research and Development (R&D) centre in this tech hub, said an official on Wednesday.

"We are investing Rs 1,100 crore in our upcoming R&D centre in Bengaluru as part of our India expansion plans," said Intel India General Manager Nivruti Rai at a news conference on the US-based multinational's investment and expansion plans in the sub-continent.

The Intel India arm is registered with the state-run Software Technology Park India (STPI) under the 100% export oriented unit scheme of the government.

Karnataka Chief Minister Siddaramaiah unveiled the blue print of the new building. Karnataka Information and Technology Minister Priyank Kharge was present on the occasion.

“Our Invest Karnataka initiative is proving its worth with such beneficial investments in the recent years. Such investments will bring job opportunities and strengthen the IT sector in the country,’’ Siddaramaiah said.

Kharge said Bengaluru has the right potential required for growth in the IT industries and such investment will propel the state and in turn the country forward in achieving greater heights.

“Intel’s investment is one of the many investment agendas that we have planned for the state. I am confident that it will encourage innovation and bring in more opportunities,’’ he said.