Advanced Micro Devices, a U.S. chipmaker, has reportedly announced its plans to spend $400 million in India over the following five years and construct its largest design center in Bengaluru, the country's technological epicenter.

Apparently, AMD's statement was made by Chief Technology Officer, Mark Papermaster, at the annual semiconductor conference, which began Friday in Gujarat, the home state of PM Narendra Modi. Micron CEO Sanjay Mehrotra and Foxconn Chairman Young Liu were the other speakers at the main event.

Despite being a late arrival, the Modi administration has been pursuing investments in India's young chip sector as it attempts to establish its reputation as a chipmaking center.

AMD revealed that it would construct a new design center campus in Bengaluru by the end of this year, generating 3,000 new engineering jobs over the next five years.

According to Papermaster, the Indian teams will continue to play a critical role in delivering high-performance and adaptable solutions to AMD clients globally.

As per the sources, the new 500,000-square-foot (55,555-square-yard) complex will expand AMD's office footprint in India to ten locations. It already employs around 6,500 people in the country.

The report cites that AMD processors are utilized in a wide range of applications, from personal PCs to data centers. The Santa Clara, California-headquartered company is also developing an artificial intelligence processor to compete with industry frontrunner Nvidia Corp.

Unlike its prominent rival Intel, AMD contracts with other producers, such as Taiwan's TSMC to produce the chips it develops.

For the unversed, in 2021, India announced a $10 billion incentive program for the chip business, but the plan has stalled since no company has received approval to put up a fabrication unit, the centerpiece of Modi's goals.

Other investments in India include an engineering center worth $400 million over several years to be established in June by American chip equipment manufacturer Applied Materials and an $825 million investment by chipmaker Micron, in a semiconductor testing and packaging operation in Gujarat.