Semiconductor foundry Taiwan Semiconductor Manufacturing Company (TSMC) has opened an office in Bangalore, India that it says will help customers to complete their chip designs faster and bring products more quickly to market.

TSMC's new office will work with the semiconductor design subsidiaries in India of TSMC's US, European, and Asian customers, the company said Monday. It will also work with the large number of Indian chip design companies that do not have their own manufacturing facilities.

India has emerged as a key location for chip design, with a large number of multinational semiconductor companies such as Intel and Texas Instruments setting up semiconductor design centres in the country.

Chip companies that contract manufacture to other companies, like Broadcom, have also set up chip design centres in India. Besides these foreign companies, there are also a number of Indian chip companies and contract designers.