DELHI, India -- Intel Corp. last week said it plans to invest more than US$1 billion in India, including $250 million that will be put into a venture capital fund to help stimulate technological innovation and drive growth for the country's IT industry.

The company said it will also spend $800 million over the next five years to expand its research and development center in Bangalore, as well as its marketing, education and community programs in India.

The announcement was made during a visit here by Intel Chairman Craig Barrett. It came less than a week after Hector Ruiz, chairman, president and CEO of rival Advanced Micro Devices Inc., said that AMD will license its process technology to an Indian consortium for use in a planned $3 billion semiconductor fabrication plant. Intel hasn't announced any chip manufacturing plans for India.

Microsoft moves to add, upgrade R&D centers

NEW DELHI -- Microsoft Corp. last week outlined plans to create a network of 90 software development centers worldwide, partly to help foster the creation of local software industries in various countries.