New Delhi [India], February 20 : Prime Minister Narendra Modi will participate in the groundbreaking ceremony of the HCL-Foxconn Joint Venture project - India Chip Pvt. Ltd. - in the Yamuna Expressway Industrial Development Authority (YEIDA), Uttar Pradesh, tomorrow at around 5 pm via video conferencing.
The Prime Minister will also address the gathering on the occasion.
The establishment of the HCL-Foxconn semiconductor facility marks a significant milestone in India's journey towards technological self-reliance and reflects the Prime Minister's vision of positioning India as a trusted global destination for high-end electronics and semiconductor manufacturing, a release said.
This Outsourced Semiconductor Assembly and Test (OSAT) facility at YEIDA will be set up by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP), with a total investment of over Rs 3,700 crore.
The project is aligned with the Government's efforts to strengthen domestic manufacturing capabilities, reduce import dependence, and build resilient global supply chains.
It is expected to play a crucial role in supporting key sectors such as mobiles phones, tablet, laptop, automotive, consumer electronics and other devices.
"Through this initiative, India's semiconductor ecosystem will receive a major boost, fostering innovation, skill development, and technology transfer," the release said.
The facility is also expected to create thousands of direct and indirect employment opportunities to engineers, technicians, and professionals, while catalysing growth in ancillary industries, it added.
The HCL-Foxconn joint venture underscores India's growing stature in the global semiconductor landscape and represents a major step forward in building a robust and self-reliant electronics manufacturing ecosystem, the release said.
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