Modi's Vision Powers India to Electronics Superpower Status, Says Minister

Vaishnaw highlighted that electronics manufacturing in India has grown to Rs 12 lakh crore, making it the third-largest export sector in the country.

Addressing the ceremony of the HCL-Foxconn Joint Venture project in Jewar, Vaishnaw said, "In 11.5 years, the Prime Minister established the country as a powerhouse in electronics. Where electronics manufacturing in the country was negligible, today there is electronics manufacturing worth Rs 12 lakh crore and among the exports from India, electronics manufacturing has reached the third position."

"Semiconductors are a foundational technology. In a country with semiconductors, many types of manufacturing become possible... that work will now take place on this holy land of Jewar," he said.

Prime Minister Narendra Modi, via video conferencing, participated in the groundbreaking ceremony of the HCL-Foxconn Joint Venture project - India Chip Pvt. Ltd. - in the Yamuna Expressway Industrial Development Authority (YEIDA), Uttar Pradesh.

The establishment of the HCL-Foxconn semiconductor facility marks a significant milestone in India's journey towards technological self-reliance and reflects the Prime Minister's vision of positioning India as a trusted global destination for high-end electronics and semiconductor manufacturing, a release said.

This Outsourced Semiconductor Assembly and Test (OSAT) facility at YEIDA will be set up by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP), with a total investment of over Rs 3,700 crore.

The project is aligned with the Government's efforts to strengthen domestic manufacturing capabilities, reduce import dependence, and build resilient global supply chains.

It is expected to play a crucial role in supporting key sectors such as mobile phones, tablets, laptops, automotive, consumer electronics and other devices.

"Through this initiative, India's semiconductor ecosystem will receive a major boost, fostering innovation, skill development, and technology transfer," the release said.

The facility is also expected to create thousands of direct and indirect employment opportunities to engineers, technicians, and professionals, while catalysing growth in ancillary industries, it added.

The HCL-Foxconn joint venture underscores India's growing stature in the global semiconductor landscape and represents a major step forward in building a robust and self-reliant electronics manufacturing ecosystem, the release said.

- ANI