PM Modi lays foundation for HCL-Foxconn semiconductor plant in Greater Noida
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Prime Minister Narendra Modi on Saturday laid the foundation stone for India Chip Private Limited, a joint venture between HCL Group and Foxconn.
During a virtual address, the Prime Minister emphasised that self-reliance in semiconductor manufacturing is the essential foundation for building a developed India. He noted that the global supply chain vulnerabilities exposed during the pandemic proved that domestic chip production is vital for national capability in the 21st century.
The new Outsourced Semiconductor Assembly and Test facility will be located in the Yamuna Expressway Industrial Development Authority at Jewar, Greater Noida.
The project is a 60:40 joint venture between HCL Group and Foxconn, with a planned investment of Rs 3,700 crore.
The facility is expected to become operational by 2028 and will focus on producing display driver chips.
Union Electronics and IT Minister Ashwini Vaishnaw stated that the plant will produce 3.6 crore chips monthly, processing approximately 20,000 wafers per month. This output aims to meet rising domestic demand and strengthen India’s position as a global electronics powerhouse.
The investment is projected to create over 3,500 direct and indirect jobs while attracting further partners to the local semiconductor ecosystem.
HCL Group Chairperson Roshini Nadar confirmed that the facility will serve both domestic and international markets.
Foxconn’s Bob Chen added that the venture aims to establish a reliable assembly and testing hub to contribute to India’s growth in the global technology landscape.
Uttar Pradesh Chief Minister Yogi Adityanath also praised the project, noting that Jewar is emerging as a critical industrial hub for the nation’s future development.