Intel will invest $1 billion in India did not mention the chip factory

NetEase technology news Monday, Intel chairman Craig - (Craig Barrett) announced that it is ready to invest more than 1 billion U.S. dollars of funds into. Including, to invest $250 million to set up a venture capital fund to promote the development of the IT industry to encourage technological innovation in the country; in 5 years to invest $800 million to expand the business in India, including the expansion of Bangalore R & D center, strengthen marketing, education and community projects.

Barrett's visit to India, from the chairman of AMD, CEO and President Hector Ruiz Gonzalez (Hector Ruiz) the end of visit to the country in less than a week. Ruiz during the period in India has announced that it will provide chip technology license and support. On Sunday, Mr. Obama unexpectedly visited the home of the IT and Communications Minister Dayanidhi Maran in Chennai, India. India has been eager to establish a semiconductor factory, the beginning of the year when Barrett met in Maran, California, Ceng Liquan,, Intel, India to set up a semiconductor test and assembly plant. But Intel has not announced any plans for chip production in India.

The venture capital fund, set up by Intel, will be used to invest in companies that are able to grow rapidly from the domestic IT market in India and invest in companies that invest in the development of indigenous technologies and products. Intel's investment arm, Intel Capital, will also use the fund to selectively invest in some of the technology oriented services companies that will rely on India's intellectual resources to develop overseas markets. Intel has 2800 employees at its R & D center in Bangalore, which has invested $700 million in India over the past 10 years.