Intel moving into India investment to make cheaper chips
Intel, the world’s largest chipmaker, plans to invest $1bn (£576m) in India over the next five years.
The firm will spend $800m on boosting its research and development operation, with the rest of the cash being used to finance investment in firms.
Intel has an R&D centre in Bangalore that produces software to drive its microchips, computers and networks.
Firms like Intel are expanding in India as the wages of software engineers are fraction of what they cost in the US.
Reports estimate that the average wage for a software engineer in India is less than a sixth of that for a similar professional in the US.
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