Intel has announced that it is to invest over $1bn in India in the near future. It is likely that this will mean a 250m investment in a venture capital fund, aimed at IT in the country. Certain IT businesses will be selected to improve their services and product developments. The company will also invest $800m over the next five years to expand its business in the country, including its Bangalore R&D centre. Currently, however, there are no plans for chip fabrication in India.