NXP Semiconductors plans to invest over USD one billion to double its research and development activities in India over the next few years. This was announced at Semicon India 2024, where the company official also said that the firm will engage with the industry, and pursue plans in the automotive sector, and industrial sector.

NXP has been present in India for about 50 years, with 3,000 employees and engineers, and has designed innovative semiconductor devices for the world, and in India, it envisions the transformation for the future. With this, it will join global chipmakers planning to set up design and capability centres in the country.

During the inaugural session, Renesas Electronics said the company has partnered with CG Power for assembly and test semiconductor plant. Renesas plans to double its workforce in India by next year.