Prime Minister Modi to Join Groundbreaking of HCL-Foxconn Semiconductor JV
Prime Minister Modi will participate in the groundbreaking ceremony of the HCL-Foxconn joint venture semiconductor project — India Chip Pvt. Ltd. — in the Yamuna Expressway Industrial Development Authority (YEIDA), Uttar Pradesh, on February 21, 2026, at around 5 PM via video conferencing. The Prime Minister will also address the gathering on the occasion.
The establishment of the HCL-Foxconn Outsourced Semiconductor Assembly and Test (OSAT) facility marks a significant milestone in India’s push for technological self-reliance and aligns with Prime Minister Modi’s vision of positioning the country as a trusted global hub for high-end electronics and semiconductor manufacturing.
The facility, to be set up by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP), involves a total investment of over ₹3,700 crore. It is expected to strengthen domestic manufacturing capabilities, reduce import dependence and contribute to resilient global supply chains.
The project will support key sectors including mobile phones, tablets, laptops, automotive, consumer electronics and other devices. It will boost India’s semiconductor ecosystem by fostering innovation, skill development and technology transfer, while generating thousands of direct and indirect employment opportunities for engineers, technicians and professionals. The initiative is also anticipated to catalyse growth in ancillary industries.
The HCL–Foxconn joint venture underscores India’s rising stature in the global semiconductor landscape and represents a major advance in developing a robust, self-reliant electronics manufacturing ecosystem.
