New Delhi, May 14, 2025.

The Cabinet’s approval of the HCL–Foxconn OSAT joint venture marks a strategic milestone in India’s semiconductor journey,”  “With an investment of ₹3,700 crore, the project brings large scale advanced packaging and testing capabilities specifically for display driver ICs—addressing a critical gap in India’s display and electronics value chain.

This isn't just about building infrastructure—it reflects India’s growing maturity in semiconductor manufacturing, with trusted partners, strategic intent, and industrial scale.” Commented Ashok Chandak, President IESA and SEMI India.

Foxconn, one of the world’s largest electronics manufacturers, brings world-class expertise in chip packaging and testing—core to the downstream semiconductor supply chain. HCL Group, with its robust technology services, engineering strength, and global relationships, adds local execution capability and talent access.

“Together, this joint venture lays the foundation for India to emerge as a preferred global hub for semiconductor OSAT operations—truly aligning with the vision of ‘Make in India, Make for the World with great support from center and states and This project can become landmark as it can create major value addition in India’s electronics manufacturing for Mobiles, Laptops, Consumer, Automotive, etc. .’” Chandak added.