India News | PM Modi Performs Groundbreaking Ceremony for HCL-Foxconn Project, Says UP to Become Major Centre for India's Semiconductor System
Get latest articles and stories on India at LatestLY. PM Modi said wherever a semiconductor unit is established, design centres emerge, startup ecosystems develop, and innovation accelerates
Greater Noida (Uttar Pradesh) [India], February 21 (ANI): Emphasising that India has to become self-dependent in chip production and a semiconductor ecosystem is being created in the country, Prime Minister Narendra Modi on Saturday said that it is a matter of pride that Uttar Pradesh is poised to become a major centre for India's semiconductor system.
PM Modi performed the groundbreaking ceremony for the HCL-Foxconn Joint Venture project, India Chip Pvt Ltd, in the Yamuna Expressway Industrial Development Authority (YEIDA) in Uttar Pradesh. via video conferencing.
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Speaking on the occasion, he said wherever a semiconductor unit is established, design centres emerge, startup ecosystems develop, and innovation accelerates. He also talked about the India AI Impact Summit, which concluded today.
"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," he said.
"Heads of state and technology leaders from across the world gathered in Delhi for the Global AI Impact Summit. At this summit, the world witnessed India's AI potential, understood our vision, and appreciated it," he added.
The Prime Minister said this decade is a 'tech-ade' for India. "Whatever India is doing in the field of technology in this decade will become the basis of our strength in the 21st century... India may have started its journey in the semiconductor sector late, but today, we are progressing at a rapid pace. India has so far approved 10 semiconductor fabrication and packaging projects under its Semiconductor Mission. Four of these units are set to commence production very soon."
The Prime Minister said that in every technology that will shape the future of humanity, India is making unprecedented investments today.
The establishment of the HCL-Foxconn semiconductor facility marks a significant milestone in India's journey towards technological self-reliance and reflects the Prime Minister's vision of positioning India as a trusted global destination for high-end electronics and semiconductor manufacturing, a release said.
This Outsourced Semiconductor Assembly and Test (OSAT) facility at YEIDA is being set up by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging (ATMP), with a total investment of over Rs 3,700 crore. The project is aligned with the Government's efforts to strengthen domestic manufacturing capabilities, reduce import dependence, and build resilient global supply chains. It is expected to play a crucial role in supporting key sectors such as mobiles phones, tablet, laptop, automotive, consumer electronics and other devices.
Through this initiative, India's semiconductor ecosystem will receive a major boost, fostering innovation, skill development, and technology transfer, the release said.
The facility is also expected to create thousands of direct and indirect employment opportunities to engineers, technicians, and professionals, while catalysing growth in ancillary industries.
The release said that HCL-Foxconn joint venture underscores India's growing stature in the global semiconductor landscape and represents a major step forward in building a robust and self-reliant electronics manufacturing ecosystem. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)