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PM Modi to Launch HCL-Foxconn Chip Plant, Meets OpenAI & Qualcomm CEOs

Prime Minister Narendra Modi will inaugurate the HCL-Foxconn semiconductor joint venture via video conference, marking a major step in India's electronics manufacturing. The Rs 3,700 crore facility aims to strengthen domestic supply chains and reduce import reliance in key sectors. The project is expected to generate significant employment and boost the broader semiconductor ecosystem. This announcement follows the Prime Minister's bilateral meetings with the CEOs of OpenAI and Qualcomm during the India AI Impact Summit.

Key Points: PM Modi Launches HCL-Foxconn Chip Plant, Meets Tech CEOs

  • Rs 3,700 crore semiconductor investment
  • OSAT facility at Yamuna Expressway
  • Aims to reduce import dependence
  • Expected to create thousands of jobs
2 min read

PM Modi to participate in HCL-Foxconn Joint Venture project ceremony tomorrow

PM Modi to inaugurate a Rs 3,700 crore semiconductor facility, boosting India's tech self-reliance, after meetings with OpenAI and Qualcomm CEOs.

"significant milestone in India's journey towards technological self-reliance - PMO release"

New Delhi, February 20

Prime Minister Narendra Modi will participate in the groundbreaking ceremony of the HCL-Foxconn Joint Venture project - India Chip Pvt. Ltd. - at the Yamuna Expressway Industrial Development Authority in Uttar Pradesh on February 21 at around 5 PM via video conferencing.

The Prime Minister will also address the gathering on the occasion, according to an official release issued by the Prime Minister's Office (PMO).

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

The Outsourced Semiconductor Assembly and Test (OSAT) facility will be set up at YEIDA by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP). The total investment in the project is estimated to be 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, the release stated.

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 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.

Prime Minister Narendra Modi today held a bilateral meeting with Sam Altman, CEO of OpenAI, on the sidelines of the India AI Impact Summit in the national capital.

Prior to his meeting with the OpenAI CEO, the Prime Minister met with Cristiano Amon, President and CEO of Qualcomm. The Prime Minister met the Tech Giants at the Hyderabad House.

- ANI

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Reader Comments

S
Sarah B
As someone working in tech, this is the kind of infrastructure investment we desperately need. Reducing import dependence on chips is critical for our mobile and auto industries. Hope the execution matches the vision.
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Vikram M
Great step for Aatmanirbhar Bharat! But I hope the focus is also on developing our own R&D and not just assembly and testing. We need to move up the value chain to truly compete globally.
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Priya S
Yamuna Expressway is becoming a major industrial hub. This will boost the local economy of Noida/Greater Noida so much. Good to see development spreading beyond just metros. 👍
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Rohit P
Meeting with OpenAI and Qualcomm CEOs on the same day... PM is really pushing the tech agenda hard. Hope these partnerships bring cutting-edge technology and training to our Indian workforce.
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Karthik V
₹3700 crore is a significant investment. My only respectful criticism is that we need transparency on the actual subsidies being provided and a clear timeline for when production will start. Announcements are good, but delivery is key.
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Michael C
This is a strategic move. With global supply chain shifts, India has a real opportunity here. HCL-Foxconn is a strong partnership. Hope it attracts more such ventures.

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