Applied Materials plans $5 billion expansion in India

Applied Materials plans to invest $5 billion in India over the next decade, expanding research, supply-chain operations and its workforce as the country builds a semiconductor manufacturing base. India has approved 12 semiconductor projects and committed more than $21 billion in incentives. The equipment maker could supply deposition, etch, inspection and packaging systems as local fabrication and packaging capacity grows. The commitment is long-term: India still lacks a large-scale chip fabrication plant in commercial production, and Tata Electronics' planned $10 billion Gujarat factory has been delayed by nearly two years.