Foxconn and HCL Group have formally named their semiconductor joint venture India Chip Private Limited, marking a key milestone in their plans to strengthen India’s semiconductor ecosystem. The naming follows regulatory filings that confirm the operational structure of the partnership and its next phase of development.
Foxconn has invested approximately ₹312 crore in the joint venture to acquire a 40 per cent stake, with provisions to scale up its investment as the project progresses. The partnership is focused on setting up an outsourced semiconductor assembly and test (OSAT) facility, a critical segment of the semiconductor value chain that supports chip packaging and testing.
The proposed facility is planned in the Yamuna Expressway Industrial Development Authority (YEIDA) region of Uttar Pradesh, where land has been earmarked for the project. Once operational, the unit is expected to support domestic and global customers, reduce dependence on overseas testing and packaging services, and create skilled employment opportunities.
The Foxconn–HCL collaboration aligns closely with India’s broader push to develop a robust semiconductor manufacturing and services ecosystem under national incentive programs. Industry experts view the formal naming of India Chip Pvt Ltd as a significant step that signals execution readiness and long-term commitment, potentially paving the way for further investments and partnerships in the country’s fast-evolving semiconductor landscape.
