HCL-Foxconn OSAT facility will help meet growing demand for advanced technologies: Roshni Nadar Malhotra
The HCL-Foxconn JV combines HCL's deep-rooted engineering DNA and depth in technology with Foxconn's semiconductor capabilities, chairperson of the HCL Group
Roshni Nadar Malhotra
, said on Thursday. Nadar-Malhotra's statement comes a day after the consortium received the Cabinet nod for a Rs 3,706 crore outsourced semiconductor assembly and test (OSAT) facility in Uttar Pradesh (UP).
"This collaboration will support key sectors such as consumer electronics, automotive, and industrial systems," she said in a statement. "The facility, with a capacity of 20,000 wafers per month, will help meet the growing demand for advanced technologies. It is expected to generate over 3,500 jobs. We are also focused on building semiconductor skills and enabling India's workforce in this field."
HCL Group and Hon Hai Technology Group (Foxconn) received the Cabinet's approval on Wednesday to set up an OSAT facility in the
Yamuna Expressway
Industrial Development Authority (YEIDA) region near Jewar airport. This marks the sixth semiconductor unit to be sanctioned under the
India Semiconductor Mission
and the first such unit to be set up in UP.
Foxconn, on its part, called it a 'landmark decision' that represented a strong vote of confidence in Foxconn's long-term commitment to India's semiconductor and electronics manufacturing ecosystem.
"This OSAT venture reflects our strong belief in local partnerships, innovation, and India's potential to emerge as a major hub for advanced semiconductor packaging and testing," Foxconn said. "As we enter the execution phase, Foxconn remains focused on building local capabilities, nurturing talent, and delivering world-class manufacturing outcomes in India."
This is Foxconn's second attempt at setting up a semiconductor unit in India. The first time around, the Taiwanese contract manufacturing giant had applied with Vedanta as their partner.
Discover the stories of your interest
Blockchain
5 Stories
Cyber-safety
7 Stories
Fintech
9 Stories
E-comm
9 Stories
ML
8 Stories
Edtech
6 Stories
The upcoming plant will manufacture display driver chips used in mobile phones, laptops, automobiles, PCs, and other devices with displays. This unit is the first-of-its-kind and is expected to contribute significantly to meeting domestic demand for such chips. Union minister for electronics and information technology Ashwini Vaishnaw on Wednesday had said that this plant will contribute to about 40% of India's total demand for display driver chips.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
13 minutes ago
- Time of India
Techie tries to buy a Gurgaon flat but finds even his Rs 1.2 lakh in-hand salary with no responsibilities not good enough
In today's India, earning Rs 20 lakh per annum is often seen as the benchmark of financial comfort. But a recent viral post on X has struck a chord with thousands, exposing the grim reality of urban homeownership , even for high earners. Shared by a user named Akhilesh, the post details how a friend living in Gurgaon , despite a hefty Rs 20 LPA CTC and frugal lifestyle, still finds himself priced out of the real estate market. In the tweet, Akhilesh writes about his friend's predicament: no car, no children, modest lifestyle, yet every real estate project he visits starts at a steep Rs 2.5 crore. 'If he buys this, he has to live paycheck to paycheck. No buffer. No vacations. No emergencies,' the tweet reads. Despite being in the top 5% of Indian earners, the post suggests, owning a decent home in a metro city remains out of reach, highlighting a growing mismatch between income and urban housing prices. — akhileshutup (@akhileshutup) Netizens react The post quickly caught fire online, igniting a flurry of responses that reflect the simmering frustration among India's salaried middle class. One user echoed the sentiment, writing, 'It's wild how even a high salary feels inadequate in certain cities. Many people are in the same boat, juggling expenses while trying to save. It makes you question what success means nowadays.' Another pointed out the long-term burden of luxury add-ons like 'infinity pools, zen gardens, biometric lifts', which not only inflate the purchase cost but also hike up monthly maintenance charges in the future. The discussion also took a broader economic turn, with one user arguing, 'He earns more than 95% of Indians. That means 7 crore people earn more than him, and a significant portion live in metro cities like Delhi. That's lakhs of families competing for premium housing. Demand is simply outpacing supply.' While some suggested that renting is a smarter option in the current climate, others questioned the societal obsession with homeownership. One user summed it up: 'Rent pe raho. Don't buy a home right now. Save up. Invest. You buy a home when you can afford it, not according to your whims and fancies."
NDTV
15 minutes ago
- NDTV
US Researcher Proposes Detonating Massive Nuclear Bomb Under Ocean To Save Earth
Quick Read Summary is AI generated, newsroom reviewed. A US researcher proposed detonating a nuclear bomb under the ocean to combat climate change. The plan aims to confine debris and radiation while accelerating rock weathering to reduce CO2. The study suggests a nuclear explosion could sequester 30 years of carbon emissions in one event. A 25-year-old Microsoft software engineer has suggested detonating the world's biggest nuclear bomb under the ocean to eviscerate the carbon-absorbing rocks that make up the seabed. Published in arXiv, a non-peer-reviewed website, Andy Haverly has claimed that the move could help solve the "escalating threat of climate change" through this innovative and large-scale intervention. "By precisely locating the explosion beneath the seabed, we aim to confine debris, radiation, and energy while ensuring rapid rock weathering at a scale substantial enough to make a meaningful dent in atmospheric carbon levels," the study highlighted. The study claimed that every year, 36 gigatons of carbon dioxide is emitted into the atmosphere every year. Using a nuclear explosion yield of 81 gigatons, scientists can sequester 30 years' worth of carbon dioxide emissions, the study claimed. The explosion would be well over a thousand times bigger than the 50-megaton 'Tsar Bomba' test, conducted in 1961 by the Soviet Union in 1961. According to Mr Haverly, who doesn't have a background in climate science or nuclear engineering, he got the idea from Christopher Nolan's Academy Award-winning movie. 'Seeing the movie Oppenheimer really brought nuclear power to the front of my mind," said Mr Haverly as per Vice, adding: "There are elements of this idea that are already well known, like Enhanced Rock Weathering, and detonating nuclear weapons underground but combining all of these ideas has not been considered seriously before. And that's the reason I posted this paper." Dimming sunlight This is not the first instance when such a radical plan has been proposed to slow down climate change. The UK government is mulling a Rs 567 crore (50 million pound) experiment to dim the sunlight. The Advanced Research and Invention Agency (Aria) is backing the solar geoengineering project, which has piqued the interest of scientists worldwide. One of the experiments involves releasing tiny particles into the stratosphere to reflect sunlight. Another potential solution is marine cloud brightening in which "ships would spray sea-salt particles into the sky to enhance the reflectivity of low-lying clouds". If successful, it could temporarily reduce surface temperatures, delaying the climate crisis and giving more time for the deep cuts in global carbon emissions needed.
NDTV
15 minutes ago
- NDTV
Vijay Mallya On Kingfisher Airlines Downfall: "I Went to Shri Pranab Mukherjee"
Fugitive businessman Vijay Mallya, facing fraud and money laundering allegations, has revealed new details about Kingfisher Airlines' downfall. He said he approached then Finance Minister Pranab Mukherjee with a plan to downsize the airline to save it. According to Mr Mallya, his request was met with opposition. In a conversation with YouTuber Raj Shamani, Mr Mallya revisited the collapse of Kingfisher Airlines, attributing much of the airline's troubles to the 2008 global financial crisis. He said that Kingfisher Airlines operated smoothly until 2008, but the situation changed drastically with the onset of the global financial crisis. The economic downturn had a significant impact on India, affecting nearly every sector of the economy, he said. 'The money stopped. It got dry. The value of the Indian rupee also took a hit,' Mr Mallya said. Kingfisher Airlines was launched in 2005, and it earned praise for its premium service. However, financial difficulties escalated as the global economy faltered. Mr Mallya said that recognising the worsening economic climate, he reached out to Pranab Mukherjee to seek permission to shrink Kingfisher's operations. 'I went to Shri Pranab said I have a problem. Kingfisher Airlines needs to downsize, cut the number of aircraft, and lay off employees, as I can't afford to operate under these depressed economic circumstances,' Mr Mallya said. Mr Mallya claims his appeal was rejected. 'I was told not to downsize. You continue, banks will support you. That is how it all started.' Mr Mallya added that despite these assurances, Kingfisher Airlines was ultimately compelled to halt all flights amid mounting financial troubles. During the podcast, the liquor baron also addressed allegations around his financial dealings, claiming he made four settlement offers to banks that were rejected despite his clear intent to repay. He criticised the lack of transparency from banks, stating he never received a formal statement of account despite 15 reminders, and that the total debt of Rs 14,131.6 crore was only revealed through a finance minister's statement in Parliament. Citing a Debt Recovery Tribunal certificate, Mr Mallya disputed media reports of Rs 9,000 crore debt, insisting the documented figure is Rs 6,203 crore. He also questioned being labelled a 'chor' despite having repaid more than what was owed and said he is prepared to stand trial — not for wrongdoing, but for alleged bad intentions.
