
Prime Minister Narendra Modi on Saturday laid the foundation stone for India Chip Private Limited, a joint venture between HCL Group and Foxconn, marking a significant step in India’s semiconductor manufacturing ambitions. The ceremony, held virtually, relates to the upcoming Outsourced Semiconductor Assembly and Test (OSAT) facility being developed at YEIDA in Jewar, Greater Noida.

The event was attended by Uttar Pradesh Chief Minister Yogi Adityanath and Union Minister for Railways, Information & Broadcasting, Electronics and IT Ashwini Vaishnaw, along with industry leaders including Roshni Nadar Malhotra and Bob Chen.
India Chip Pvt Ltd, structured as a 60:40 partnership between HCL and Foxconn, will establish a state-of-the-art OSAT facility with a planned investment of ₹3,700 crore. The unit is expected to commence operations by 2028 and focus on manufacturing display driver chips. Officials said the project is likely to generate more than 3,500 direct and indirect employment opportunities while fostering local supply chains and attracting semiconductor ecosystem partners.
With an estimated processing capacity of 20,000 wafers per month, the facility is poised to support India’s rising domestic semiconductor demand and contribute to a resilient, self-reliant supply chain.
Speaking on the occasion, Malhotra described the project as a milestone in HCL’s growth journey, particularly as the company marks its 50th anniversary. She acknowledged the support extended by both the Centre and the Uttar Pradesh government and emphasised the company’s commitment to strengthening the state’s emerging technology and manufacturing landscape.
Foxconn Chairman Young Liu noted that the joint venture reflects the company’s strategy of building and localising manufacturing capabilities in India while supporting local communities through its operational model.
Industry observers said the collaboration combines HCL’s engineering expertise with Foxconn’s global manufacturing strength, positioning the upcoming facility as a key contributor to India’s semiconductor ecosystem and high-tech manufacturing aspirations.
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