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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Fred Levine who wrote (2783)	8/30/2002 3:18:10 PM
From: Fred Levine	Read Replies (1) \| Respond to of 25522

Intel plans greater investments in India By K.C. Krishnadas EE Times (08/29/02 11:58 a.m. EST) BANGALORE, India — Intel Corp. said Thursday (Aug. 29) that it plans to invest about $ 130 million in India, according to reports quoting Pramod Mahajan, India's minister for information technology. Mahajan reportedly said Intel would begin a new wave of Indian recruitment, increasing staff from 900 today to 3,000 workers within five years. The minister made the comments after a meeting with Intel chief executive officer Craig Barrett in New Delhi on Thursday. Barrett is currently on a two-day trip to India as part of an Asian tour. Intel is also forming a design team here focusing on the design and development of Intel's 32-bit microprocessor architecture. There was no word from Intel itself on the planned new investments and hiring, which were expected to be announced here on Friday when Barrett opens a new office block in Bangalore. Intel already has a major software development center in Bangalore. Intel's investment arm, Intel Capital, has also made several investments in Indian companies, including Sasken Communication and others. Addressing government and business leaders in New Delhi, Barrett said India needs to build on its software development expertise and become a "total IT nation" by creating, manufacturing and deploying information technologies. "We urge India to extend its software leadership into new areas of innovation, including circuit design, hardware creation, high-tech manufacturing and the delivery of information technology services. Adopting a strategy of balanced technology innovation is key to India's long-term economic growth," Barrett said. By following an aggressive IT strategy, India can become a leader in expanding a digitally-driven economy throughout Asia, Barrett said. The country also must build a strong computing and communications infrastructure, develop new e-business processes that enable companies to expand their businesses and invest in a strong educational foundation to create a skilled work force prepared to compete in a global digital economy. Barrett warned that India needs to act faster to foster balanced technology innovation and build upon its advantages of software development skills and its large pool of IT workers. Problems such as inadequate infrastructure, high tariffs and taxes on IT products, a climate that discourages investment, as well as low PC and Internet penetration, could all slow India's advance into a global market, Barrett said. EE Times Network Search Center Online Editions EE TIMES EE TIMES ASIA EE TIMES CHINA EE TIMES KOREA EE TIMES TAIWAN EE TIMES UK Web Sites • CommsDesign GaAsNET.com iApplianceWeb.com • Microwave Engineering • EEdesign Deepchip.com Design & Reuse • Embedded.com • Elektronik i Norden • Planet Analog • Semiconductor Business News • The Work Circuit • TWC on Campus • ChipCenter • EBN • EBN China • Electronics Express • NetSeminar Services • QuestLink Intel plans greater investments in India By K.C. Krishnadas EE Times (08/29/02 11:58 a.m. EST) BANGALORE, India — Intel Corp. said Thursday (Aug. 29) that it plans to invest about $ 130 million in India, according to reports quoting Pramod Mahajan, India's minister for information technology. Mahajan reportedly said Intel would begin a new wave of Indian recruitment, increasing staff from 900 today to 3,000 workers within five years. The minister made the comments after a meeting with Intel chief executive officer Craig Barrett in New Delhi on Thursday. Barrett is currently on a two-day trip to India as part of an Asian tour. Intel is also forming a design team here focusing on the design and development of Intel's 32-bit microprocessor architecture. There was no word from Intel itself on the planned new investments and hiring, which were expected to be announced here on Friday when Barrett opens a new office block in Bangalore. Intel already has a major software development center in Bangalore. Intel's investment arm, Intel Capital, has also made several investments in Indian companies, including Sasken Communication and others. Addressing government and business leaders in New Delhi, Barrett said India needs to build on its software development expertise and become a "total IT nation" by creating, manufacturing and deploying information technologies. "We urge India to extend its software leadership into new areas of innovation, including circuit design, hardware creation, high-tech manufacturing and the delivery of information technology services. Adopting a strategy of balanced technology innovation is key to India's long-term economic growth," Barrett said. By following an aggressive IT strategy, India can become a leader in expanding a digitally-driven economy throughout Asia, Barrett said. The country also must build a strong computing and communications infrastructure, develop new e-business processes that enable companies to expand their businesses and invest in a strong educational foundation to create a skilled work force prepared to compete in a global digital economy. Barrett warned that India needs to act faster to foster balanced technology innovation and build upon its advantages of software development skills and its large pool of IT workers. Problems such as inadequate infrastructure, high tariffs and taxes on IT products, a climate that discourages investment, as well as low PC and Internet penetration, could all slow India's advance into a global market, Barrett said. fred