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Intel Invests $1 Billion in India


The world's biggest maker of computer chips is investing more than $1 billion in India over the next five years.

The investment was announced Monday by Intel Chairman . Much of the money will go to expand Intel's research and development center in Bangalore.

That operation already employs 2,800 people.

Intel officials say around $250 million is going into a fund to stimulate local technology innovation, particularly in technology oriented service companies that target overseas markets.

Intel has been operating in India for a decade, and has already invested about $700 million there.

Mr. Barrett says India is one of the world's "leading technology centers" and he expects this investment to help the country grow further.