Foxconn Bets Big on Indian Semiconductor JV with HCL Group

Foxconn is investing up to Rs 424 crore in a semiconductor joint venture with HCL Group. The JV will focus on OSAT plant establishment in India. The company has invested over USD 1.4 billion in India, including a Rs 22,000 crore mega unit in Karnataka, generating significant employment opportunities.

Taiwanese electronics giant Foxconn is set to inject up to Rs 424 crore into a new semiconductor joint venture with the HCL Group, according to official sources.

In a major move, Foxconn has acquired a 40 percent stake in the venture, amounting to around Rs 312 crore, with the potential for further investment up to USD 13.31 million (approximately Rs 112 crore).

The joint venture, which will focus on Outsourced Semiconductor Assembly and Test (OSAT), aims to bolster India's burgeoning semiconductor industry. Foxconn's investment in India has already surpassed USD 1.4 billion, creating over 48,000 jobs and paving the way for future expansions in sectors like electric vehicles and battery manufacturing.