HCL-Foxconn's Semiconductor Leap: Boosting India's Chip Industry

The Indian government has approved an HCL-Foxconn joint venture to establish a semiconductor plant in Jewar, Uttar Pradesh, costing Rs 3,706 crore. The plant will produce display driver chips for various electronics, including mobile phones and automobiles, processing 20,000 wafers monthly and creating approximately 2,000 jobs.

The government granted approval for a significant joint venture between HCL and Foxconn, which aims to establish a semiconductor manufacturing plant in Jewar, Uttar Pradesh.

As announced by I&B Minister Ashwini Vaishnaw, the facility will be instrumental in producing display driver chips for a host of electronic devices, from mobile phones to automobiles, reflecting a substantial move towards enhancing India's semiconductor capabilities.

The plant is projected to process 20,000 wafers each month and expected to generate around 2,000 local jobs, marking a notable milestone in the nation's industrial growth and technological advancement.

(With inputs from agencies.)