Amid IT sector layoffs, Intel to invest Rs 1,100 crore in India, generate 3,000 jobs
While reports of layoffs and job loss are making employees of IT sector jittery, Intel announced its plan to invest Rs 1,100 crores in Bengaluru. The move aimed at advancing Intel's Research and development and innovation is expected to create 3,000 jobs. The investment, Intel on Wednesday said, will be used to set up the company's new design house in Bengaluru.
The Research and Development Centre is part of the chip maker firm's efforts to consolidate its operations in one campus. Intel's latest investment will be in addition to the Rs 28,000 crore the company has invested since 1999. India continues to be the US-firm's largest Research and development site outside the United States. The facility will be housed in Intel's 44-acre campus on Sarjapur Ring Road in Bengaluru. The facility is expected to be set up in 13 months.
At a time when job insecurity has become a worrying trend across the country, Karnataka government has managed to bring in more investments in the sector. "Our invest Karnataka initiative is proving its worth with such beneficial investments. Such investments will bring tremendous job opportunities and strengthen the IT sector," said Karnataka Chief Minister Siddaramaiah.
"Intel India plays a very strategic role in Intel's growth, with significant contributions to Intel's technology and product leadership," Nivruti Rai, Intel India general manager, vice-president of data group at Intel, said in a statement on Wednesday.
The 'smart and green' building will be constructed using "One storey High Technology". The company claimed that each floor will be built on the ground and will then be lifted and attached to the top of the building. Construction will take place from the roof downwards. The company said that the new technology would reduce construction time by around 30 percent when compared to traditional practices.