Cabinet Approves Rs 3,706 Crore HCL-Foxconn Semiconductor Joint Venture in UP's Jewar

Briefing the media after the cabinet decision, information and broadcasting minister Ashwini Vaishnaw said that the unit would focus on manufacturing display driver chips for phones, laptops, automobiles, and other display devices, with a monthly capacity of 20,000 wafers and 36 million chips.

“As the plant will make driver chips for displays used in mobile phones, laptops, automobiles, and other devices, it is expected to generate employment for 2,000 people. What we understand is that once this unit is there, then the display panel plant will also come to India. This will meet 40 per cent of India’s capacity. It is a large plant and it will also meet the requirements of Foxconn for the rest of the world,” Vaishnaw said.These chips, the minister said, control the quality and format of the content displayed on screen. “It is a very advanced technology that is being set up. Foxconn is the biggest manufacturer of electronic products, including Apple's iPhone. The HCL-Foxconn joint venture will become operational in 2027,” he added.

However, the government said in its release that the semiconductor industry is now shaping up across the country. “Worldclass design facilities have come up in many states across the country. State governments are vigorously pursuing the design firms,” it said.