© Reuters.
CHENNAI – Qualcomm (NASDAQ:), a leading semiconductor and telecommunications equipment company, has announced plans to establish a new design center in Chennai, India. The move is expected to not only bolster wireless innovation but also create job opportunities for up to 1,600 individuals.
The design center, representing an investment of Rs. 177.27 crore ($1 = ₹83.11), underscores Qualcomm’s commitment to India’s burgeoning tech landscape and its strategic importance in global wireless research and development. The Chennai facility is poised to become a hub for cutting-edge wireless technology innovation.
In conjunction with Qualcomm’s announcement, the Global Investors Meet witnessed a memorandum of understanding (MoU) anticipated between Tata Electronics and officials from Tamil Nadu. This agreement is set to channel a Rs 7,000 crore investment into the expansion of Tata’s Hosur plant. The plant expansion is indicative of the growing focus on manufacturing capabilities in the state.
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This story originally appeared on Investing
