The investment is part of the company's growth plans for India, Partha Datta Ray, vice president, IC Engineering and Strategic Solutions said on Monday.
Dutta Ray, who was in city to participate in the VLSI conference also informed that they have decided to work with Indian Universities and educational institutions for training people in chip design activities which would eventually lead to the introduction of courses at senior under graduation and post graduation levels.
They are already in touch with IIT Kharagpur for the same and are in the process of finalising the arrangement. To start with they would like to have similar relations with about three institutions of great reputation in Bangalore and Chennai.
In Hyderabad they are looking at possible tie-up with IIT, he added. "In next few years, we see a very rapid growth of electronic products globally. The global market for electronic and chip design services is variously estimated to be upwards of $10 billion. And India based design service revenue could be estimated to be around $200-300 million", Dutta Ray said.
The chip design activity is fast moving to Asia. The share of Asia in the global production of chip designs has increased dramatically: from partially nothing during the mid-1990s to a significant per cent today.
He said this is still far smaller than North America's share of 60 per cent, But Asia is the fastest growing market for EDA tools, growing faster, compared with the five per cent growth in North America, four per cent in Europe, and two per cent in Japan.
Taiwan has emerged as a primary new location, followed by Korea. Chip design is rapidly growing in China and India, as well as in Singapore and Malaysia informed Partha.