India's semiconductor ambitions took a major step forward as HCL Group and Foxconn unveiled their joint venture, India Chip, which will establish an advanced OSAT facility in Greater Noida. The facility is projected to meet approximately 25 percent of India's domestic chip demand for display drivers used in smartphones, laptops, and televisions. With planned capacity of 20,000 wafers monthly and an expected operational date of 2028, the venture represents a significant push toward semiconductor self-reliance. The company aims to export 20-30 percent of total production while meeting domestic consumption needs. The ₹3,700 crore investment will create over 3,500 jobs and strengthen local supply chains. Government support covers 70 percent of projected costs, demonstrating strong policy backing for semiconductor manufacturing in India.
