India's Semiconductor Leap: HCL-Foxconn Plant Boosts Domestic Tech

The Union Cabinet has approved a Rs 3,706 crore semiconductor plant at Jewar, Uttar Pradesh. The HCL-Foxconn joint venture will produce 3.6 crore chips monthly, meeting 40% of India's capacity. This plant, expected to be operational by 2027, will significantly boost India's electronics manufacturing sector.

The Indian government has taken a significant step forward with the approval of a Rs 3,706 crore semiconductor plant in Jewar, Uttar Pradesh, announced by the Union Cabinet on Wednesday.

Set to be established by the HCL-Foxconn joint venture, the plant will focus on manufacturing display driver chips, integral to mobile phones, laptops, and automobiles. Information and Broadcasting Minister Ashwini Vaishnaw highlighted the plant's capacity to produce 3.6 crore chips monthly, with operations expected to commence by 2027.

This development marks a substantial stride in India's technology sector, potentially fulfilling 40% of the country's needs and generating employment for 2,000 people. As Foxconn is an industry leader, this move is anticipated to encourage further growth and investment in India's electronics manufacturing industry.

(With inputs from agencies.)