New Delhi, February 2026.

The Hon’ble Prime Minister of India, Shri Narendra Modi, today laid the foundation stone of India Chip Private Limited - the HCL Group and Foxconn JV for Outsourced Semiconductor Assembly & Test (OSAT) facility in YEIDA (Yamuna Expressway Industrial Development Authority) in Jewar, Greater Noida. The Prime Minister joined the event virtually.

Also present on the occasion were Hon’ble Chief Minister of Uttar Pradesh, Yogi Adityanath and Hon’ble Minister for Railways, Information & Broadcasting, Electronics & Information Technology, Government of India Shri Ashwini Vaishnaw. They were joined by Roshni Nadar Malhotra, Chairperson, HCL Group, and Bob Chen, President – Semiconductor Business Group, Hon Hai Technology Group (Foxconn).

India Chip Pvt Ltd is a 60:40 joint venture between HCL Group and Foxconn. The advanced OSAT facility is expected to be operational by 2028. The company has earmarked an investment of Rs 3,700 crores over the next few years in the state-of-the-art facility that will produce display driver chips. The investment is expected to create over 3,500 direct and indirect jobs, build local supply chains, and attract ecosystem partners across the semiconductor value chain.

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. This milestone is especially significant as HCL, a global technology powerhouse with an expanding base of users for its world-class software platforms, celebrates its 50th anniversary – marking not just a legacy of leadership, but a bold step into India’s semiconductor future.

Roshni Nadar Malhotra, Chairperson, HCL Group, said: “We want to thank the Hon’ble PM for taking the time to grace this occasion. This project marks a significant new chapter in the HCL Group’s growth story and builds on our strong engineering legacy, which has long contributed to India’s technology and manufacturing ecosystem. We are deeply grateful to the Government of India and the Government of Uttar Pradesh for their unwavering support. We are proud to deepen our commitment to Uttar Pradesh and contribute meaningfully to the state’s fast-evolving technology and manufacturing landscape. We look forward to working closely with Foxconn, to bring this state-of-the-art project to life at the earliest, and to further strengthen India’s technology story.”