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Intel India chief Nivruti Rai has announced that she will step down after 29 years with the company. In her most recent role, Rai served as India head and vice president of Intel Foundry Services.

The New Indian Express reported that Rai is likely to be appointed as MD and CEO of Invest India.

YourStory could not independently verify the report.

The development comes months after an audit by the Ministry of Commerce questioned the work of Invest India, leading to the resignation of its Managing Director and Chief Executive Deepak Bagla, the report said.

It added that the move is strategic as the government has failed to attract any serious semiconductor companies to the country, despite offering subsidies to set up units.

Invest India is a non-profit organisation under the Department of Industrial Policy and Promotion of the Ministry of Commerce.

Intel India, Intel’s largest engineering hub outside the US, will announce its leadership succession plans in due course.

Rai, who had joined Intel in February 1994 as a design engineer and worked in the US till 2005, moved to Bengaluru in September same year to take up the role of senior director of chipset engineering and intellectual property development.

She has been instrumental in driving the company’s growth and establishing its presence as a key player in the Indian technology landscape during her tenure at the company.

Through her visionary leadership and strategic acumen, she has spearheaded various initiatives and transformed Intel India into one of its key centres for innovation, research and development outside the US.

Intel India underwent remarkable expansion and diversification under Rai’s leadership. She fostered collaborations with Indian academic institutions and startups and facilitated the growth of Intel’s workforce in the country and led the establishment of state-of-the-art research and development facilities.