US-based technology company AMD has announced it will invest $400mn in India over a five-year period and open its research and development centre in Bengaluru. The decision was welcomed by India's Minister of State for IT and Electronics, Rajeev Chandrasekhar, who said it will help develop a strong semiconductor design and innovation ecosystem in the country while providing opportunities for skilled semiconductor engineers and researchers and catalysing India's goal of becoming a global talent hub.