The Yamuna Expressway Industrial Development Authority has allocated 48 acres along the expressway, advancing the Foxconn-HCL semiconductor project and India’s chip ambitions.
Electronics manufacturing services major Foxconn and HCL Group have named their semiconductor joint venture India Chip Private Limited, according to a regulatory filing. The move marks a key step in the partners’ plans to establish a domestic semiconductor manufacturing presence in India.
Foxconn has already infused USD 37.2 million into the joint venture for a 40% equity stake. The Taiwanese company may invest up to ₹4.24 billion in the semiconductor venture as the project progresses.
The project has also received a major boost on the infrastructure front. The Uttar Pradesh government’s Yamuna Expressway Industrial Development Authority has allocated nearly 48 acres of land for the joint venture’s outsourced semiconductor assembly and test facility. The proposed unit will focus on display driver integrated circuits, a critical component used in electronic displays.
HCL Group had submitted the land allocation proposal to the Uttar Pradesh government under the name Vama Sundari. The allocation by the state authority signals growing support from regional governments for semiconductor investments, which are seen as strategic for India’s electronics and technology ecosystem.
India Chip Private Limited is expected to play a significant role in strengthening India’s semiconductor supply chain and reducing dependence on imports. The Foxconn HCL partnership aligns with the central government’s broader push to attract global semiconductor players and build local manufacturing capabilities.
The joint venture adds to a series of recent announcements highlighting increased momentum in India’s semiconductor and electronics manufacturing sector, supported by both public policy initiatives and private capital investment.
