PM Modi to participate in groundbreaking event of HCL-Foxconn chip project tomorrow
New Delhi, Feb 20
Prime Minister Narendra Modi is scheduled to participate in the groundbreaking ceremony of the Rs 3,700 crore HCL-Foxconn joint venture project - India Chip Pvt. Ltd. - in the Yamuna Expressway Industrial Development Authority area near the Noida International Airport in Jewar, Uttar Pradesh on Februray 21 via video conferencing, according to a PMO statement issued on Friday.
The establishment of the semiconductor facility by Taiwanese electronics manufacturing giant Foxconn and India's HCL Group 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.
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 facility is also expected to create thousands of direct and indirect employment opportunities to engineers, technicians, and professionals, while catalysing growth in ancillary industries, the statement said.
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.
Foxconn holds a 40 per cent equity stake in the venture and has already infused $37.2 million (around Rs 312 crore). The Taiwanese contract manufacturer may invest up to Rs 424 crore in the company.
YEIDA has allocated around 48 acres of land for the project in Sector 28, Jewar, near the upcoming Noida International Airport.
The facility will house an outsourced semiconductor assembly and test plant focused on display driver integrated circuits used in smartphones, laptops, and automotive applications.
— IANS
Reader Comments
Great initiative! But I hope the focus is also on developing the entire ecosystem - from raw materials to skilled technicians. Just setting up a plant isn't enough. We need comprehensive planning for long-term sustainability and innovation.
Near Noida airport and Yamuna Expressway? Perfect logistics location! This will boost the entire NCR region's economy. Hope they start recruitment soon - my brother is an electronics engineer looking for good opportunities in India itself.
As someone working in tech, this is exciting. The OSAT facility is crucial. Most of our phones and laptops depend on these chips. If India can capture even a small part of this global market, it will be a game-changer for our tech industry.
Good move, but the investment seems modest compared to global standards. Hope this is just the beginning and attracts more players. We need to compete with China and Taiwan in this sector, which requires massive scale and continuous R&D investment.
The partnership between HCL and Foxconn makes sense - Indian IT expertise with Taiwanese manufacturing prowess. This could be a model for future collaborations. The key will be technology transfer and developing indigenous capabilities over time.
Thousands of jobs mentioned
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