PM lays stone for Foxconn, HCL semiconductor unit

He was speaking after laying the foundation stone for Uttar Pradesh’s most significant semiconductor unit — a joint venture between Taiwan’s electronics manufacturing services company Foxconn and India’s HCL Group.

Foxconn and HCL Group have formed a joint venture, called India Chip Private Limited, to set up an Outsourced Semiconductor Assembly and Test (OSAT) facility at the Yamuna Expressway Industrial Development Authority (YEIDA) in Greater Noida. The advanced OSAT facility is expected to be operational by 2028.

India Chip is a 60:40 joint venture between the HCL Group and Foxconn. The facility is being set up with an investment of Rs 3,700 crore, the companies said in a statement. This would make India Chip among a handful of homegrown companies to commence display driver chip production domestically. The facility is expected to create over 3,500 direct and indirect jobs, build local supply chains and attract ecosystem partners across the semiconductor value chain.

With a planned capacity to process 20,000 wafers per month, the facility will play a pivotal role in meeting India’s growing domestic demand for semiconductors, the statement said.

"India is surging ahead to build a robust semiconductor ecosystem. If the 20th century was all about nations with the highest oil reserves, the 21st century is ruled by countries having the prowess in chip-making. We are proud that Uttar Pradesh is emerging as a major player in the technology sector. This semiconductor unit will give new recognition to the state. Moreover, it will boost employment, as the establishment of a semiconductor facility attracts ancillary industries, which will ultimately generate more jobs,” Modi said in a virtual message.

Young Liu, chairman of Hon Hai Technology Group (Foxconn), said the project was a great example of how the company would build, operate and localise in India. “We are sincerely thankful to HCL and privileged to be recognised by the Government of India and the Government of Uttar Pradesh for achieving this milestone,” he said.

Roshni Nadar Malhotra, chairperson of the HCL Group, said the project marked a significant new chapter in the group’s growth story and builds on its strong engineering legacy, which has long contributed to India’s technology and manufacturing ecosystem.

India started its semiconductor journey in 2021 with the allocation of Rs 76,000 crore as an incentive to companies investing in the country. Finance Minister Nirmala Sitharaman, in her Budget speech, announced the launch of the second edition of the India Semiconductor Mission to develop the semiconductor ecosystem.

Yogi to visit Japan, Singapore

Uttar Pradesh Chief Minister Yogi Adityanath will embark on a five-day visit to Japan and Singapore beginning Sunday to attract investment for the state. He will be accompanied by 18 officials.