PM Modi lays foundation stone for HCL-Foxconn semiconductor facility in Uttar Pradesh

Prime Minister Narendra Modi

• PM Modi inaugurates India Chip Pvt Ltd OSAT facility in Noida
• HCL and Foxconn to invest Rs 3,700 crore, create 3,500 jobs
• New facility to process 20,000 wafers/month, boost chip supply

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Prime Minister Narendra Modi on Saturday laid the foundation stone of India Chip Private Limited -- a joint venture between Taiwan’s electronics manufacturing services company Foxconn and India’s HCL Group -- for an Outsourced Semiconductor Assembly & Test (OSAT) facility in Yamuna Expressway Industrial Development Authority (YEIDA), Jewar, Greater Noida.

The Prime Minister took part in the event virtually.

India Chip Pvt Ltd, a 60:40 joint venture between HCL Group and Foxconn, plans to operationalise its advanced OSAT facility by 2028. The company has committed an investment of Rs 3,700 crore over the coming years to set up the state-of-the-art unit, which will manufacture display driver chips. The project is expected to generate more than 3,500 direct and indirect jobs, strengthen local supply chains, and draw ecosystem partners across the semiconductor value chain.

Speaking on the occasion, PM Modi said wherever a semiconductor unit is established, design centres emerge, startup ecosystems develop, and innovation accelerates. He also talked about the India AI Impact Summit, which concluded today.

"Today, India is rapidly progressing towards its goal of development. I have also said from the Red Fort that India has no time to pause or slow down. Since the beginning of 2026, India has accelerated its progress... and now this week is also proving to be historic for India," he said.

"Heads of state and technology leaders from across the world gathered in Delhi for the Global AI Impact Summit. At this summit, the world witnessed India's AI potential, understood our vision, and appreciated it," he added.

The Prime Minister said this decade is a 'tech-ade' for India. "Whatever India is doing in the field of technology in this decade will become the basis of our strength in the 21st century... India may have started its journey in the semiconductor sector late, but today, we are progressing at a rapid pace. India has so far approved 10 semiconductor fabrication and packaging projects under its Semiconductor Mission. Four of these units are set to commence production very soon."

With a planned capacity to process 20,000 wafers per month, the facility will play a pivotal role in meeting India’s growing domestic demand for semiconductor components while strengthening a resilient, self-reliant semiconductor supply chain, according to an official release.