Chipmaker Infineon Technologies opens new GCC in India [Yahoo! Finance]
INFINEON TECHS AG S/ADR (IFNNY)
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infineon.com/cms/en/about-infineon/investor
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Source: Yahoo! Finance
The new centre in Ahmedabad will focus on research and development (R&D) for advanced chip design, product software, information technology and more. It will employ 400 engineers, according to Infineon India managing director Vinay Shenoy, and will be the first GCC established in the state, marking the company's second such facility in India. Gujarat's Chief Minister Shri Bhupendra Patel and Infineon CEO Jochen Hanebeck attended an inauguration event on Monday (24 March) marking the occasion. Hanebeck said: “India is an important, strategic market for Infineon, presenting immense opportunities for growth. The market will become even more important in the future. We have set ourselves an ambitious target to achieve €1bn in annual revenues in India by 2030.” The Gujarat government has recently introduced its GCC policy, which aims to attract investments worth around €1.07bn (INR 10,000 crore) and create 50,000 jobs. This initiative coincides with the union government's intensifie
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