Microchip Technology, a leading embedded control solutions provider listed on Nasdaq, made a significant move towards expanding its operations in India. On Monday, the company unveiled a new research and development (R&D) centre in Hyderabad, with a firm plan to double the facility's workforce to 1,000 employees in the coming years. 

This brand new facility is a key component of a wider, multi-year $300-million strategic initiative proposed by the company. The generous funding will not only cater to facilities and engineering labs but will also allocate resources for talent acquisition, and provide support to regional technology consortia and educational institutions. 

Covering an impressive 168,000 sq.ft. area, the Hyderabad centre has a maximum capacity of 1,000 employees, poised to bolster Microchip Technology's growth trajectory for the foreseeable future. This new addition will work in harmony with the existing development centres in Bengaluru and Chennai and the sales offices spread across Bengaluru, Chennai, Hyderabad, Pune, and New Delhi. 

Speaking at the inauguration of the new centre, Minister for Industries and IT, K.T. Rama Rao, praised Microchip's continued investment, acknowledging it as a testament to the region's robust talent pool and business infrastructure. He stated, "Microchip’s commitment to additional investments here further validates our success in cultivating one of the world’s deepest talent pools and creating a world-class business infrastructure for supporting corporate growth and success.” 

Microchip Technology’s President and CEO, Ganesh Moorthy, highlighted the strategic location of the facility in one of India’s prime business corridors, which he believes will significantly expand their headcount and meet the global business needs and the demands of the growing customer base in the region. 

Currently, the company boasts approximately 2,500 microchip employees in India who are indispensable to its semiconductor design, development, sales and support operations. These employees service around 2,000 customers in the region and provide valuable contributions to more than 25 business units developing solutions for various industries, including industrial, automotive, data centre, aerospace, defence, communications, and consumer industries. 

This news is based on an article from thehindu.com.