New Delhi: Leading chip-maker Intel Corporation announced a multi-year investment plan for India, totalling over $1 billion, including $800 million over the next five years for business expansion.
The investment will focus on expanding the Research and Development centre in Bangalore, in addition to marketing, education and community programmes.
The investment roadmap also has a provision for setting up a $250 million venture capital fund in India.
"The investment demonstrates the company's long term commitments and builds on the foundation we created during the last 10 years," Barrett said.
"We will grow our local operations, boost venture capital investment and work closely with the government, industry and educators to increase the impact of the country's Information and Communication Technology," he added.
Alongwith Intel's investment over $700 million in India over the past 10 years, Intel capital has provided funding to more than 40 companies in India since it started investing 1998.
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