In a significant development, semiconductor giant Global Foundries and technology conglomerate Dell have announced plans for substantial investments in Bengaluru, as conveyed to a Karnataka business delegation during their US visit. Global Foundries, with a hefty valuation of $30 billion, intends to hire 200 skilled workers in Bengaluru while expressing keen interest in expanding its aerospace and defense footprint in Karnataka. Dell, a $50 billion company operating globally, is contemplating fresh investments in its Bengaluru-based research and development (R&D) center. The delegation, led by Karnataka Industries Minister MB Patil, affirmed the state government's support for these initiatives. Global Foundries' focus on developing a comprehensive business strategy and Dell's request for assistance in overcoming import restrictions on special economic zone (SEZ) operations were key highlights of the discussions. The visit also included a business roundtable, showcasing Karnataka's efforts to attract investments and foster economic growth.

courtesy by : The  Economics Times