HCL-Foxconn Venture Sets Up OSAT Unit in Noida

India Chip Private Limited on Saturday laid the foundation stone for its new OSAT facility in Greater Noida, marking a major step in India’s semiconductor push.

Prime Minister Narendra Modi joined the event virtually as the joint venture between HCL Group and Foxconn unveiled plans to invest Rs 3,700 crore in the project.

The upcoming unit, located at the Yamuna Expressway Industrial Development Authority in Jewar, will manufacture display driver chips and is expected to be operational by 2028. With a capacity of 20,000 wafers per month, the OSAT facility is projected to create over 3,500 direct and indirect jobs while boosting local supply chains and strengthening India’s semiconductor ecosystem.

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India Chip Pvt Ltd is structured as a 60:40 partnership between HCL and Foxconn. Speaking at the event, PM Modi said semiconductor plants spark innovation and startup growth. Referring to the Global AI Impact Summit held in Delhi, he said, "Today, India is rapidly progressing towards its goal of development. I have also said from the Red Fort that India has no time to pause or slow down. Since the beginning of 2026, India has accelerated its progress... and now this week is also proving to be historic for India."

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HCL Chairperson Roshni Nadar Malhotra said the company plans to build and train talent with Foxconn’s support, adding it will need 600 to 800 high-tech engineers. Backed by the India Semiconductor Mission, the project reflects renewed momentum in a sector that once struggled due to skill gaps and limited resources.