To be operational by 2028, India’s new semiconductor venture with Foxconn and HCL signals a decisive step towards self-reliance and technological strength this decade, the Prime Minister hopes.
Prime Minister Narendra Modi has laid the foundation stone for India Chip Pvt Ltd, a joint venture between HCL Group and Taiwan’s Foxconn, to establish an outsourced semiconductor assembly and test (OSAT) facility in Greater Noida. The event was attended virtually by the Prime Minister on February 21, 2026.
The project, located within the Yamuna Expressway Industrial Development Authority (YEIDA) area, represents a 60:40 partnership between HCL and Foxconn. With an investment commitment of ₹37 billion, the facility is expected to become operational by 2028.
It will focus on manufacturing display driver chips and is projected to create more than 3500 direct and indirect jobs, while strengthening domestic supply chains and attracting ecosystem partners across the semiconductor value chain.
According to official details, the plant will have a capacity of 20,000 wafers per month, positioning it as a contributor to India’s growing demand for semiconductor components. The initiative is also part of the India Semiconductor Mission (ISM), under which ten fabrication and packaging projects have been approved, with four nearing production.
In his remarks, Modi emphasised the transformative potential of semiconductor units, noting their role in fostering design centres, startup ecosystems, and innovation. He described the current decade as a ‘tech-ade’ for India, highlighting technology as a foundation for national strength in the 21st century.
The Prime Minister also referenced the recently concluded Global AI Impact Summit in Delhi, where international leaders acknowledged India’s vision and capabilities in artificial intelligence. He reiterated that India’s technological progress is accelerating, with no pause in its developmental trajectory.
