India Chip Private Limited, a joint venture between Foxconn, a Taiwanese electronics manufacturing services company, and HCL Group, an Indian company, laid the foundation stone for an Outsourced Semiconductor Assembly & Test (OSAT) facility in Yamuna Expressway Industrial Development Authority (YEIDA), Jewar, Greater Noida, on Saturday. Prime Minister Narendra Modi made the announcement.
By 2028, India Chip Pvt Ltd, a 60:40 joint venture between Foxconn and HCL Group, intends to operationalize its cutting-edge OSAT plant. In order to establish the cutting-edge facility that would produce display driver chips, the business has committed to investing Rs 3,700 crore over the next several years. According to projections, the initiative will attract ecosystem partners throughout the semiconductor value chain, improve local supply chains, and create over 3,500 direct and indirect jobs.
Speaking at the event, PM Modi stated that innovation speeds up, design centers appear, and startup ecosystems grow wherever a semiconductor unit is based. He also discussed the India AI Impact Summit, which came to an end today: “India is making great strides today in achieving its development objective. From the Red Fort, I have also stated that India has no time to slow down or stop. India has made rapid progress since the start of 2026, and this week is turning out to be historic for the country as well,” he said. “Technological and heads of state leaders from all around the world traveled to Delhi for the Global AI Impact Summit. The world saw India’s AI potential at this summit, comprehended our vision, and valued it,” he continued.
This decade is a “tech-ade” for India, according to the prime minister. “India’s technological achievements in this decade will serve as the cornerstone of our power in the twenty-first century. Despite having a late start to the semiconductor industry, India is now making rapid growth. Under the Semiconductor Mission, India has so far authorized ten projects involving the production and packaging of semiconductors. Four of these units will soon start producing.
The facility will be crucial in fulfilling India’s increasing domestic demand for semiconductor components and bolstering a robust, independent semiconductor supply chain, with a projected capacity of 20,000 wafers per month, an official statement stated.
