HCL Foxconn Joint Venture Groundbreaking Today
Hyderabad: Prime Minister Narendra Modi will take part in the groundbreaking ceremony of the HCL Foxconn Joint Venture project, India Chip Pvt. Ltd., on 21 February 2026 at around 5 PM via video conferencing. The event will take place at the Yamuna Expressway Industrial Development Authority in Uttar Pradesh. The Prime Minister will also address the gathering on the occasion.
The HCL Foxconn Joint Venture marks a key step in India’s semiconductor journey. It highlights the government’s focus on high end electronics and chip manufacturing. The project also reflects the Prime Minister’s vision of positioning India as a trusted global destination for semiconductor production.
Semiconductor facility at YEIDA under ATMP scheme
The semiconductor facility will operate as an Outsourced Semiconductor Assembly and Test unit at YEIDA. India Chip Pvt. Ltd. will set it up under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging. The total investment in the project is over Rs 3,700 crore.
The project aligns with the government’s push to strengthen domestic manufacturing. It also aims to reduce import dependence and build resilient global supply chains. Therefore, the new unit is expected to support sectors such as mobile phones, tablets, laptops, automotive, and consumer electronics.
Boost to semiconductor ecosystem and jobs
The HCL Foxconn Joint Venture is expected to give a major boost to India’s semiconductor ecosystem. It will encourage innovation, skill development, and technology transfer. Meanwhile, the facility is likely to create thousands of direct and indirect jobs for engineers, technicians, and other professionals.
The project will also catalyse growth in ancillary industries. As a result, it strengthens India’s electronics manufacturing base. Moreover, it underlines India’s growing stature in the global semiconductor landscape.
Overall, the HCL Foxconn Joint Venture represents a significant step towards building a robust and self reliant electronics manufacturing ecosystem in the country.
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