Tokyo Electron (TYO:8035) will establish its first Indian development centre in Bengaluru this summer to leverage India's tech talent pool and support the country's semiconductor ambitions, according to its Tuesday bourse filing.
The chip equipment giant plans to initially deploy a compact team focused on designing chipmaking tools and developing specialized software, with ambitions to scale up to around 300 predominantly local employees by 2027.
This expansion positions Tokyo Electron to potentially build a future manufacturing footprint in the country, aligning with New Delhi's aggressive push to cultivate a domestic semiconductor ecosystem.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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