In a major boost to India&rsquo;s semiconductor manufacturing ambitions, the Union Cabinet has approved a joint venture between IT major HCLTech and Taiwanese electronics giant Foxconn to establish a semiconductor assembly and packaging plant in Uttar Pradesh. The project is the sixth to be approved under the ₹76,000 crore India Semiconductor Mission.
The facility will be set up near Jewar Airport in the Yamuna Expressway Industrial Development Authority (YEIDA) area, with a total investment of ₹3,706 crore. Of this, approximately ₹1,500 crore will come from the Indian government under its incentive scheme.
The plant will focus on assembling display driver chips&mdash;crucial components for mobile phones, laptops, automotive displays, and other screen-based devices. It is expected to handle 20,000 wafers per month and produce up to 36 million units monthly once fully operational.
This marks Foxconn&rsquo;s second attempt to enter India&rsquo;s semiconductor ecosystem. Its earlier venture with Vedanta in 2022 fell through in 2023 due to disagreements and the lack of a viable technology partner, compounded by Vedanta&rsquo;s financial challenges.
With HCLTech now on board, Foxconn re-enters the Indian semiconductor landscape with stronger backing and technical credibility.
Union IT Minister Ashwini Vaishnaw stated that the plant is expected to commence chip production by 2027. Once operational, it is projected to meet 40% of India&rsquo;s domestic demand for display driver chips, with additional output potentially exported or supplied to Foxconn&rsquo;s global supply chain.
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Source : startupro.in

In a major boost to India’s semiconductor manufacturing ambitions, the Union Cabinet has approved a joint venture between IT major HCLTech and Taiwanese electronics giant Foxconn to establish a semiconductor assembly and packaging plant in Uttar Pradesh

Cabinet Approves ₹3,706 Crore HCLTech-Foxconn Semiconductor Plant in Uttar Pradesh