Semiconductor equipment maker Lam Research has signed a memorandum of understanding (MoU) with the Karnataka Industrial Area Development Board (KIADB) to invest INR 10,000 Cr in the state over the next “few years”.
The announcement was made by senior vice president at Lam Research, Sesha Varadarajan, on the sidelines of the Invest Karnataka 2025 event.
“… Sesha Varadarajan, senior vice president, @LamResearch, at Invest Karnataka 2025 – Global Investors Meet, announced a major investment in Karnataka! We have signed an MoU with KIADB and, through this partnership, will be investing over INR 10,000 Cr in specific projects over the next few years, reinforcing our commitment to innovation and growth in the state,” the summit’s official handle said in a post on X.
Meanwhile, IT minister Ashwini Vaishnaw said in a post on X, “One more milestone in our semiconductor journey: Lam Research announces major investment of over Rs 10,000 cr in India. Big vote of confidence in PM @narendramodi Ji’s semiconductor vision.”
This comes weeks after Lam Research’s chief financial officer (CFO) and executive vice president Douglas Bettinger, during the quarterly earnings call last month, said that the company is investing in a “digital transformation project” that would deliver future financial benefit.
Notably, the announcement of the investment comes barely five months after the US-based wafer-fabrication equipment provider reportedly broke ground on a new systems lab at its India Center for Engineering in Bengaluru. At the time, it was reported that the lab would have a fully functional semiconductor manufacturing equipment development environment in the city.
The new unit will enable Lam engineers in the country to design, test and validate semiconductor manufacturing processes and equipment on site. Previously, Lam Research also opened its first engineering centre in Bengaluru in 2022.
This comes at a time when both the Centre and state governments have rolled out red carpets for global semiconductor manufacturers. Besides expediting land transfers, local authorities have also been doling out subsidies and other sops to these players.
The incentives are part of the Centre’s flagship INR 76,000 Cr India Semiconductor Mission (ISM), which aims to make the country a semiconductor hub.
Under the mission, five proposed semiconductor units have so far received government subsidies, including Micron’s facility in Gujarat, proposed chip fabrication units by Tata Electronics Private Limited, CG Power’s project in partnership with Renesas Electronics Corporation, among others.
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