The Indian cabinet has approved the HCL-Foxconn joint venture

Cabinet Approves HCL-Foxconn Semiconductor Joint Venture The Indian government has greenlit a ₹3,706 crore joint venture between HCL Group and Taiwan's Foxconn to establish a semiconductor manufacturing facility in Jewar, Uttar Pradesh. This Outsourced Semiconductor Assembly and Test (OSAT) unit will produce 36 million display driver chips annually, catering to sectors like mobile devices, automotive, and defense. Slated to commence operations by 2027, this initiative aligns with the 'Atmanirbhar Bharat' mission, aiming to bolster India's position in the global semiconductor landscape.