India's New Era in Chip Manufacturing: A Leap Toward Self-Reliance

Prime Minister Narendra Modi emphasizes 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, aims to establish a semiconductor ecosystem in Greater Noida, fostering economic growth, employment, and a resilient supply chain.

Prime Minister Narendra Modi stressed the significance of self-reliant chip manufacturing for India's development during a virtual address on Saturday. He laid the foundation stone for India Chip Pvt Ltd, a partnership between HCL Group and Foxconn, aiming to enhance India's standing in technology and electronics manufacturing.

The new semiconductor facility will be based at the Yamuna Expressway Industrial Development Authority in Jewar, Greater Noida. Modi highlighted the fragile chip supply chain witnessed during the COVID-19 pandemic as a lesson for India, prompting the creation of a domestic semiconductor ecosystem to avoid dependencies.

Slated to be operational by 2028, the facility has attracted a substantial investment and aims to produce up to 3.6 crore chips monthly. This move is expected to create thousands of jobs, boost local supply chains, and fortify India's position as a global electronics manufacturer.

(With inputs from agencies.)