Cabinet Approves HCL-Foxconn Semiconductor Joint Venture; Plant to Be Set Up in Jewar, Uttar Pradesh
New Delhi, May 14 – The Indian government on Wednesday approved the HCL-Foxconn semiconductor joint venture, which will set up a wafer fabrication plant in Jewar, Uttar Pradesh, with an estimated investment of Rs 3,706 crore.
As per agency report, the decision was announced by Union Information and Broadcasting Minister Ashwini Vaishnaw following a Cabinet meeting chaired by Prime Minister Narendra Modi. The proposed facility will produce display driver chips for mobile phones, laptops, automobiles, and other electronic devices.
According to the official statement, the plant will manufacture 20,000 semiconductor wafers per month and is expected to generate employment for approximately 2,000 people. The minister emphasized that display driver chips play a crucial role in controlling the quality and format of visuals shown on electronic screens and are a part of advanced semiconductor technology.
This will be the sixth semiconductor fabrication unit approved under India’s semiconductor initiative and marks a significant step in strengthening the country's electronics manufacturing ecosystem.
Foxconn, the world's largest electronics contract manufacturer and key assembler of Apple’s iPhones, is partnering with Indian IT major HCL Technologies for this venture. Vaishnaw noted that the establishment of this unit could potentially pave the way for full-fledged display panel manufacturing in India, addressing up to 40 percent of the country’s demand and even supporting global supply requirements.
The HCL-Foxconn semiconductor facility is scheduled to become operational by 2027. Vaishnaw added that India's electronics manufacturing sector currently employs around 2.5 million people, and the semiconductor ecosystem is expected to have a multiplier effect on employment and industrial growth.
He reiterated that semiconductors are a foundational component for all electronics and that this project will significantly enhance India’s capacity and self-reliance in advanced manufacturing.
