Applied Materials eyes India for growth

Applied Materials, which provides products and services to the semiconductor, and nano manufacturing technology solutions for the electronics industry, expects India to drive business for the company in the coming years.

The company is focusing on India as the semiconductor policy was announced recently.

"We expect more companies to announce their investments in India. We are looking at the opportunities available for growth here," Applied Materials president and CEO Michael R Splinter said here on Wednesday.

Recently, the company entered into separate agreements with Moser Baer and Signet Solar, which have proposed projects in India. Moser Baer is planning a Rs 2,000-crore solar photovoltaic fabrication plant in Chennai. Similarly, Signet Solar is planning an investment of $150 million in thin-film-based solar photovoltaics plant.

"Applied Materials has developed and manufactured product "" Gen 8.5 "" that brings down the power and utility costs. It has been deployed for Moser Baer. India needs to add 70 Giga Watts of energy every year if the country has to maintain an economic growth rate of 10 per cent every year. We expect more companies to set up solar photovoltaics plants in India," he added.

India happens to be the second largest R&D centre for the $9.89 billion company. Its R&D centres, located in Bangalore and Chennai, are engaged in product development and customer support in engineering design and services.

"We have over 1,000 professionals in India. We expect the headcount to go up in the coming months," Splinter stated.