Tokyo Electron Prepares India Expansion as Modi Lures Chipmakers [Yahoo! Finance]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: Yahoo! Finance
Most Read from Bloomberg Japan's biggest chip equipment maker plans to hire and train local engineers in or around 2026, with their first task to provide technical services to Tata Electronics Pvt, Chief Executive Officer Toshiki Kawai said. Robotics will play a growing role and local staff will be provided with in-person and remote support from Japan, he added, declining to specify how many people the company would need to hire. India is amping up efforts to attract international electronics companies and chipmakers to set up facilities within its borders, under a plan by the Narendra Modi administration to close the tech gap with advanced economies. Apple Inc. is accelerating its production and sales of iPhones in the country, while Tata Group and others are investing billions of dollars in semiconductor fabrication plants. The government is providing incentives to support those ventures, which will need machinery and knowhow from companies like Tokyo Electron. The Tokyo-base
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Analyst Actions
- 10/9/24 - Sanford C. Bernstein