Modi lays foundation stone for HCL-Foxconn semiconductor factory in UP
What's the story
Prime Minister Narendra Modi laid the foundation stone of a new semiconductor chip manufacturing facility in Jewar, Uttar Pradesh yesterday. The plant is a joint venture between tech giants Foxconn and HCL. The project is part of India's efforts to become self-reliant in technology and lower dependence on global supply chains exposed during the COVID-19 pandemic.
Self-reliance
'Made in India' chip very important for developed India: Modi
During the ceremony, Modi stressed on the significance of a "Made in India" chip for a developed and self-reliant nation. He said, "Developed India will be possible only if it is self-reliant; Made in India chip very important for developed India." The Prime Minister also highlighted India's dual approach toward technology, focusing on both software and hardware.
Production goals
Facility to be operational by 2028
The new facility, India Chip Pvt Ltd, is a ₹3,700 crore investment. It will be operational by 2028 and produce up to 3.6 crore chips every month at full capacity. The factory will process 20,000 wafers per month and manufacture display driver chips. This move is expected to strengthen India's semiconductor ecosystem and create over 3,500 jobs in the state of Uttar Pradesh.
Technological independence
Project to strengthen India's position in global tech landscape
The new semiconductor facility is expected to make India self-reliant in technology, a major step toward reducing dependence on global supply chains. This move also comes as part of India's efforts to secure critical rare earth minerals for the semiconductor industry.