NXP to invest over $1 billion in R&D in India over next few years, says company at Semicon India 2024

NXP Semiconductors plans to invest over USD 1 billion to double its R&D activities in India. The company aims to enhance its presence in the automotive and industrial sectors. NXP has been in India for 50 years and employs around 3,000 people. Renesas Electronics and Tata Electronics also announced significant expansions in India.