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 (YEIDA) in Uttar Pradesh at around 5 PM today (21 February) via video conferencing.
He will also address the gathering on the occasion.
The HCL-Foxconn semiconductor facility marks a significant step in India’s push towards technological self-reliance and the development of a robust domestic electronics manufacturing ecosystem.
The facility will be set up as an Outsourced Semiconductor Assembly and Test (OSAT) unit by HCL-Foxconn Joint Venture project – India Chip Pvt. Ltd. – under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP).
The total investment in the project is over Rs 3,700 crore.
Aligned with efforts to strengthen domestic manufacturing capabilities and reduce import dependence, the project is expected to contribute to building more resilient global supply chains.
The OSAT unit is projected to support key sectors including mobile phones, tablets, laptops, automotive, consumer electronics and other electronic devices.
The initiative is also expected to generate thousands of direct and indirect employment opportunities for engineers, technicians and other professionals. In addition to job creation, it is anticipated to foster innovation, skill development and growth in ancillary industries linked to semiconductor manufacturing.
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