Intel, the world’s largest computer chip manufacturer, announced yesterday that it would invest $1 billion in India over the next five years with $800 million going to expand its R&D operations in Bangalore. Intel also said it would explore manufacturing opportunities in the subcontinent. Today, the New York Times reports that investment banker J. P. Morgan Chase said it would add 4,500 new employees to its Indian workforce by 2007, doubling the number of people it employs in India. These new hires would in large part be dedicated to setting up operations in Bangalore to support Chase’s structured finance and derivatives business. (Contrary to J.P. Morgan’s decision to “backsource” workers, which we covered last September in CIO.)This is in addition to the 4,500 current J. P. Morgan Chase employees in India, mainly based in Mumbai. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe All this while Microsoft founder and chairman Bill Gates continues his Indian tour. It seems that despite the political resentment offshoring has stirred up at home, the cost-savings in India and its large talent pool are too compelling for U.S. companies to resist.–David Rosenbaum Related content feature 10 digital transformation questions every CIO must answer Impactful DX requires a business-centric approach supported by the right skills, culture, and strategy. Here’s how to assess whether your digital journey is on the path to success. By Mary K. Pratt Sep 25, 2023 12 mins Digital Transformation IT Strategy IT Leadership feature Rockwell Automation makes shift to ‘as-a-service’ model Facing increasing competition from cloud hypervisors that see manufacturing as prime for disruption, the industrial automation giant has undertaken a major transformation to add subscription software services to its core business. By Paula Rooney Sep 25, 2023 6 mins Manufacturing Industry Digital Transformation IT Strategy brandpost Fireside Chat between Tata Communications and Tata Realty: 5 ways how Technology bridges the CX perception gap By Tata Communications Sep 24, 2023 9 mins Emerging Technology brandpost From telco to ‘TechCo’: how NTT Comware reinvented itself By Sourced Group Sep 24, 2023 4 mins Digital Transformation Telecommunications Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe