Prime Minister Narendra Modi will participate in the groundbreaking ceremony of the Rs 3,700 crore HCL-Foxconn joint venture project, India Chip Pvt. Ltd., near the Noida International Airport in Jewar, Uttar Pradesh. The semiconductor facility, a collaboration between Foxconn and HCL Group, signifies a significant step towards India’s technological self-reliance and its aim to become a global hub for high-end electronics manufacturing.
The Outsourced Semiconductor Assembly and Test (OSAT) facility at YEIDA, to be established by India Chip Pvt. Ltd., will operate under the Modified Scheme for Semiconductor Assembly, Testing, Marking, and Packaging (ATMP), with an investment exceeding Rs 3,700 crore. This initiative aligns with the government’s strategy to enhance domestic manufacturing capabilities, reduce reliance on imports, and fortify global supply chains.
The project is anticipated to bolster various sectors including mobile phones, tablets, laptops, automotive, and consumer electronics. It is poised to elevate India’s semiconductor ecosystem, promoting innovation, skill development, and technology transfer. Moreover, the facility is projected to generate numerous job opportunities, both direct and indirect, benefiting engineers, technicians, and professionals while stimulating growth in related industries.
The HCL-Foxconn collaboration highlights India’s increasing presence in the global semiconductor sector and marks a significant stride towards establishing a resilient and self-sufficient electronics manufacturing environment. Foxconn, holding a 40% equity stake in the venture, has already invested $37.2 million (approximately Rs 312 crore) and may further inject up to Rs 424 crore into the company. The project site spans around 48 acres in Sector 28, Jewar, allocated by YEIDA near the upcoming Noida International Airport.
