New Delhi [India], February 20 : Prime Minister Narendra Modi will participate in the groundbreaking ceremony of the HCL-Foxconn Joint Venture project - India Chip Pvt. Ltd. - at the Yamuna Expressway Industrial Development Authority (YEIDA) in Uttar Pradesh on February 21 at around 5 PM via video conferencing.
The Prime Minister will also address the gathering on the occasion, according to an official release issued by the Prime Minister's Office (PMO).
The establishment of the HCL-Foxconn semiconductor facility marks a significant milestone in India's journey towards technological self-reliance. The project aligns with the Prime Minister's vision of positioning India as a trusted global hub for high-end electronics and semiconductor manufacturing.
The Outsourced Semiconductor Assembly and Test (OSAT) facility will be set up at YEIDA by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP). The total investment in the project is estimated to be over Rs 3,700 crore.
The project is aligned with the Government's efforts to strengthen domestic manufacturing capabilities, reduce import dependence, and build resilient global supply chains. It is expected to play a crucial role in supporting key sectors such as mobile phones, tablets, laptops, automotive, consumer electronics and other devices, the release stated.
Through this initiative, India's semiconductor ecosystem will receive a major boost, fostering innovation, skill development, and technology transfer. The facility is also expected to create thousands of direct and indirect employment opportunities to engineers, technicians, and professionals, while catalysing growth in ancillary industries.
The HCL-Foxconn joint venture underscores India's growing stature in the global semiconductor landscape and represents a major step forward in building a robust and self-reliant electronics manufacturing ecosystem.
Prime Minister Narendra Modi today held a bilateral meeting with Sam Altman, CEO of OpenAI, on the sidelines of the India AI Impact Summit in the national capital.
Prior to his meeting with the OpenAI CEO, the Prime Minister met with Cristiano Amon, President and CEO of Qualcomm. The Prime Minister met the Tech Giants at the Hyderabad House.