HCL and Foxconn to build ₹3,700cr display-driver plant near Noida
Big news: HCL and Foxconn are teaming up for a project called India Chip, aiming to produce 36 million display-driver chips every month, enough to cover roughly 40% of what India needs.
Announced by Chairman Shikhar Malhotra at Semicon India 2026, the more than ₹3,700 crore factory will be set up near Noida International Airport, with construction kicking off in February and with the facility expected to open in 2028.
India imports 80-85% of display components
Right now, India imports most of its display components, 80-85% of what goes into an Indian display comes from outside the country.
This new facility is expected to create demand for a wider domestic semiconductor supply chain, including substrates, lead frames, bonding wires, molding compounds, specialty gasses and precision tooling.
Chairman Shikhar Malhotra pointed out that India's strengths in software, AI, and chip design make this move a smart next step for our tech future.
If all goes well, it could inspire more suppliers to manufacture in India and help the country rely less on foreign chips.