Prabu Raja, president of the company’s semiconductor products group, outlined the "India Vision 2035" strategy, which focuses on establishing a new research park and fostering specialized engineering talent. The plan seeks to increase the company’s local supply chain capacity tenfold by 2035 while doubling the current research and development workforce. Applied Materials currently maintains a 7,000-person operation in India, a footprint that has grown steadily over the past ten years. Following the announcement, the company’s shares rose 2.5% in premarket trading on Thursday as markets reacted to the long-term commitment to the region's burgeoning chip industry.