Foxconn-HCL JV Branded India Chip Pvt Ltd to Boost Chip Manufacturing

• Foxconn–HCL name chip JV India Chip Pvt Ltd
• Foxconn invests $37.2 million, more planned
• UP allocates land for the OSAT semiconductor unit

Electronics manufacturing services major Foxconn and HCL Group have named their semiconductor joint venture India Chip Private Limited, according to a regulatory filing. The development marks a key step in the partners’ plans to establish a domestic semiconductor manufacturing presence in India.

Foxconn has already infused $37.2 million into the joint venture for a 40 percent equity stake. The Taiwanese company may invest up to ₹4.24 billion in the semiconductor venture as the project advances.

The project has also received a boost on the infrastructure front, with the Uttar Pradesh government’s Yamuna Expressway Industrial Development Authority allocating nearly 48 acres of land for the joint venture’s outsourced semiconductor assembly and test (OSAT) facility. The proposed unit will focus on display driver integrated circuits, a critical component used in electronic displays.

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HCL Group had submitted the land allocation proposal to the Uttar Pradesh government under the name Vama Sundari. The allocation by the state authority signals increasing support from regional governments for semiconductor investments, which are seen as strategic to India’s electronics and technology ecosystem.

India Chip Private Limited is expected to play a significant role in strengthening the country’s semiconductor supply chain and reducing dependence on imports. The Foxconn–HCL partnership aligns with the central government’s broader push to attract global semiconductor players and build domestic manufacturing capabilities.

The joint venture adds to a series of recent announcements underscoring growing momentum in India’s semiconductor and electronics manufacturing sector, driven by a combination of policy initiatives and private capital investment.