Union Budget 2023-24
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Applied Materials to invest over INR 1800 cr in India

Applied Materials (AMAT) a Semiconductor Manufacturing Equipment maker is a key player in India's semiconductor growth story as the company designs and manufactures hi-tech semiconductor equipment used by all semiconductor fabs across the world. AMAT's India centre is now the company's second-largest resource for product development and operations globally employing 6000+. The company is interested in expanding their India base for R&D, product and supply chain development. To ensure their application is approved and as AMATs expansion is of strategic importance to India's vision of creating a sustainable Semiconductor and Display ecosystem in the country, Invest India provided recommendations to MeitY to amend the scheme to add newer products including Capital goods for all goods covered under SPECS including manufacturing of semiconductors, R&D prototyping, specialty gases & chemicals, etc. The amendments were implemented by MeitY recently. 

Presently, the company is planning to expand its R&D and product development capabilities in India with a total project cost of ~$ 240 Mn over the next 5 years.