PM Modi to Inaugurate HCL-Foxconn's Groundbreaking Semiconductor Venture

Prime Minister Narendra Modi is set to inaugurate the HCL-Foxconn India Chip Pvt. Ltd. semiconductor project, a significant step in boosting India's electronics manufacturing sector. The initiative aims to strengthen domestic capabilities, foster technological innovation, and generate employment, aligning with the vision of a self-reliant India.

Prime Minister Narendra Modi is slated to take part in the groundbreaking ceremony for the ambitious HCL-Foxconn Joint Venture project, India Chip Pvt. Ltd., situated in the Yamuna Expressway Industrial Development Authority (YEIDA) in Uttar Pradesh. The inauguration, set for tomorrow at 5 pm, will occur via video conferencing, with Modi expected to address the audience to outline the venture's importance.

This new semiconductor facility represents a pivotal development in India's aspirations to achieve technological self-reliance, in line with the Prime Minister's goal of transforming India into a global hub for high-end electronics and semiconductor manufacturing. According to official sources, the Outsourced Semiconductor Assembly and Test (OSAT) facility at YEIDA will be constructed by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP) with an investment exceeding Rs 3,700 crore.

The project is a part of the government's broader efforts to enhance domestic manufacturing, minimize reliance on imports, and fortify global supply chains. It is poised to support critical sectors like mobile phones, tablets, laptops, automotive, consumer electronics, and more. Officials highlight that the initiative will significantly boost India's semiconductor ecosystem, foster innovation, skill development, and technological transfers, leading to substantial direct and indirect job creation across varied industries.