Prime Minister Narendra Modi will participate in the groundbreaking ceremony of the ₹3,700 crore HCL-Foxconn joint venture project, India Chip Pvt. Ltd., on Saturday through video conferencing.
The facility will be located in the Yamuna Expressway Industrial Development Authority (YEIDA) area, near the upcoming Noida International Airport in Jewar, Uttar Pradesh.
The project represents a significant milestone in India’s efforts to build a strong domestic semiconductor manufacturing base and reduce reliance on imports.
The semiconductor facility is being established by Taiwanese electronics manufacturing major Foxconn in partnership with India’s HCL Group. The joint venture, India Chip Pvt. Ltd., will set up an Outsourced Semiconductor Assembly and Test (OSAT) plant under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP).
With a total investment of over ₹3,700 crore, the project aligns with the government’s broader strategy to strengthen domestic manufacturing capabilities, enhance supply chain resilience, and position India as a trusted global hub for high-end electronics and semiconductor production.
Focus On Display Driver Chips
The facility will focus on assembly and testing of display driver integrated circuits used in smartphones, tablets, laptops, automotive systems, and consumer electronics. The plant is expected to significantly support these fast-growing sectors while advancing India’s semiconductor ecosystem.
YEIDA has allotted around 48 acres of land in Sector 28, Jewar, for the project, further reinforcing the region’s emergence as a high-technology manufacturing cluster.
Investment Structure And Employment Impact
Foxconn holds a 40 per cent equity stake in the venture and has already infused $37.2 million, approximately ₹312 crore. The Taiwanese contract manufacturer may invest up to ₹424 crore in the company.
Beyond capital infusion, the project is expected to generate thousands of direct and indirect employment opportunities for engineers, technicians, and skilled professionals.
It is also likely to catalyse the growth of ancillary industries and promote innovation, skill development, and technology transfer within the domestic ecosystem.
The HCL-Foxconn joint venture underscores India’s growing stature in the global semiconductor landscape. As the country accelerates its push toward technological self-reliance, the Jewar facility marks a major step in building a robust and future-ready electronics manufacturing ecosystem.
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