Advanced Micro Devices (AMD), a US-based semiconductor company that develops computer processors and related technologies for business and consumer markets, has announced plans to invest $400m to open a new 46,500m² design centre in Bangalore, India. The new centre will create up to 3,000 jobs and is expected to open at the end of 2023.

AMD was founded in 1969 as a Silicon Valley start-up, and has since grown into a global company with other Indian operations in Delhi, Gurgaon, Hyderabad and Mumbai. Of the Bangalore investment, Mark Papermaster, executive vice-president and chief technology officer at AMD, said: “From a handful of employees in 2001 to more than 6,500 employees today, AMD has grown its India footprint based on the strong foundation established by our local leadership and the highly skilled talent pool.”

India’s Minister of State for Electronics and IT, Skill Development and Entrepreneurship, Rajeev Chandrasekhar, added: “[This deal] will certainly play an important role in building a world-class semiconductor design and innovation ecosystem [in India]. It will also provide tremendous opportunities for our large pool of highly skilled semiconductor engineers and researchers, and will catalyse Prime Minister Narendra Modi’s vision of India becoming a global talent hub.”

Bangalore is one of the fastest-growing cities in the world, and is something of a hotbed for foreign direct investment. In July, it attracted a $270m (€240.9m) lens factory investment from Carl Zeiss, which will create 600 jobs, while in June Mercedes-Benz created 1,000 jobs in the city by committing to a new research and development centre there. It also recently saw the creation of 400 jobs through an expansion by Schneider Electric. The city has established a global reputation for its IT expertise, and hosts headquarters for companies such as Flipkart, Infosys, Mindtree, MphasiS, Myntra and Wipro.