Building the Future: India's Leap in Chip Manufacturing

Prime Minister Narendra Modi underscored the importance of self-reliance in chip manufacturing for India's development. The India Chip Pvt Ltd, a joint venture between HCL Group and Foxconn, will establish an OSAT facility aimed at boosting local semiconductor production, creating jobs, and strengthening the supply chain.

Prime Minister Narendra Modi emphasized the significance of self-reliance in chip production, marking it as crucial for India's advancement. Addressing the nation virtually, he laid the foundation for India Chip Pvt Ltd, a joint venture between HCL Group and Foxconn, at a ceremony on Saturday.

The upcoming OSAT facility, located at the Yamuna Expressway Industrial Development Authority in Jewar, Greater Noida, will process 20,000 wafers per month and aims to solidify India's semiconductor supply chain. The project signifies a Rs 3,700 crore investment from HCL Group and Foxconn, projected to create over 3,500 jobs and meet the increasing domestic demand for chips.

Union Electronics and IT Minister Ashwini Vaishnaw lauded India's rise to the third-largest electronics exporter. Additionally, UP Chief Minister Yogi Adityanath highlighted Jewar's role in the nation's growth, while Foxconn's President Bob Chen and HCL Chairperson Roshini Nadar expressed confidence in the joint venture's global impact.

(With inputs from agencies.)