HCL-Foxconn plant reflects India's growing maturity in semiconductor manufacturing
New Delhi: The Cabinet's approval of the HCL-Foxconn chip plant reflects India's growing maturity in semiconductor manufacturing -- with trusted partners, strategic intent and industrial scale, industry experts said on Wednesday.
The Cabinet, chaired by Prime Minister Narendra Modi, has approved the establishment of the semiconductor unit in Uttar Pradesh under the India Semiconductor Mission (ISM) that would attract investment of Rs 3,700 crore.
This marks a strategic milestone in India's semiconductor journey, said experts.
'With an investment of Rs 3,700 crore, the project brings large scale advanced packaging and testing capabilities specifically for display driver ICs -- addressing a critical gap in India's display and electronics value chain,' said Ashok Chandak, President IESA and SEMI India.
Foxconn, one of the world's largest electronics manufacturers, brings world-class expertise in chip packaging and testing core to the downstream semiconductor supply chain.
HCL Group, with its robust technology services, engineering strength, and global relationships, adds local execution capability and talent access.
'Together, this joint venture lays the foundation for India to emerge as a preferred global hub for semiconductor OSAT (Outsourced Semiconductor Assembly and Test) operations —aligning with the vision of 'Make in India' and 'Make for the World' with great support from the Centre and states,' Chandak said.
The plant near Jewar airport is designed for 20,000 wafers per month. The design output capacity is 36 million units per month. It will manufacture display driver chips for mobile phones, laptops, automobiles, PCs, and other devices that have display.
'This project can become landmark as it can create major value addition in India's electronics manufacturing for mobiles, laptops, consumer and automotive, etc,' Chandak noted.
Five semiconductor units are in advanced stages of construction. With this sixth unit, 'Bharat moves forward in its journey to develop the strategically vital semiconductor industry,' according to the Cabinet.
--IANS
na/
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
27 minutes ago
- News18
Hina Khan On 11 Years Of Modi Government: 'We Will See Developed India Soon'
Last Updated: Hina Khan believes that India can become a developed country, a vision she credited to the iconic leader Narendra Modi. As the country marks 11 years under the iconic leadership of Prime Minister Narendra Modi, actress Hina Khan shared that India has become very powerful and that the country is now better than before in 'every field". Talking exclusively to IANS about 11 years of Modi government and his leadership, Hina told IANS: 'From my limited experience, I feel that India is very powerful." She added: 'In areas like infrastructure, technology, space, medicine, Ayushmaan Bharat, poverty reduction, defence, and the economy — we are better than before." The 37-year-old actress believes that India can become a developed country, a vision she credited to the iconic leader Narendra Modi. 'India can also become a developed country, and that too in our lifetime. To be very honest, it was our Prime Minister who first envisioned this dream. And with the way development and improvement are happening, I personally believe that we will be able to see a developed India soon," she said. In other news, Hina, on June 4, announced that she has finally tied the knot with Rocky Jaiswal. She took to Instagram, where she made the announcement, which featured several pictures from their special day. They wrote in the caption, 'From two different worlds, we built a universe of love. Our differences faded, our hearts aligned, creating a bond to last lifetimes. We are our home, our light, our hope and together, we transcend all barriers." 'Today, our union is forever sealed in love and law. We seek your Blessings and Wishes as Wife and Husband. #MM'sMinimalistBride #TwinFlame #OurLoveStory #SoulBound A special piece from the one and only MM". Talking about their love, Hina and Rocky initially met on the set of the popular show 'Yeh Rishta Kya Kehlata Hai'. While Hina was the lead Akshara on the show, Rocky Jaiswal was the supervising producer. First Published:
Time of India
32 minutes ago
- Time of India
Allahabad HC directs restoration of Sambhal MP's electricity connection
The Allahabad High Court has directed the Uttar Pradesh Power Corporation Ltd to restore the electricity connection at Samajwadi Party MP Zia-Ur Rehman's house, provided he deposits a permissible amount of Rs. 6 lakhs to maintain his appeal. A division bench, comprising Justice Saumitra Dayal Singh and Justice Sandeep Jain, passed the order on a writ petition filed by the Sambhal MP in the electricity theft case and gave Rehman two weeks to deposit the money. "Submission is that even if the inspection report and adverse facts allegedly found therein are accepted, no jurisdiction arose with the respondent authorities to make assessment for a period of 12 years," the court observed in its June 4 order. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently. Investructor Undo "The maximum period for which assessment may have been made could not exceed one year. By breaching the statutory period of assessment, wholly unnatural and arbitrary demand of Rs 1 crore and 91 lakhs has been raised. The petitioner cannot be made to deposit 50% of such illegal demand to maintain an appeal," the court said. The petitioner, Rehman, through its counsel, submitted that he is willing to deposit Rs 6 lakhs to maintain his appeal. Live Events The court granted the Corporation three weeks to file a reply in the matter and fixed the next hearing for July 2. In December 2024, the electricity department imposed a fine of Rs 1.91 crore on the MP following an inspection at his residence in Sambhal's Deepa Sarai area, where the officials allegedly discovered power theft .
Hindustan Times
36 minutes ago
- Hindustan Times
Mumbai Apple India deal: 5 key facts about the brand's upcoming 12,616 sq ft store in Borivali
Borivali, a locality in Mumbai's western suburbs, has welcomed a high-profile new tenant, the Apple Store at Sky City Mall, developed by listed real estate firm Oberoi Realty. Over the past decade, Borivali has transformed into a premium retail hub, say real estate experts. In addition to the newly opened Sky City Mall (launched in March 2025), the area boasts at least three prominent retail high streets that attract leading global and domestic brands. With this growing commercial presence, 'Brand Borivali' is fast emerging as a strong contender to established retail destinations like Andheri, Bandra, and even South Mumbai. Apple India has leased 12,616 sq ft retail space in Mumbai's Borivali suburb for ₹17.35 lakh monthly rent as it prepares to launch its second store in Maharashtra and fourth in the country, according to documents accessed by real estate data analytics firm Propstack. The lease transaction registered on May 28, 2025, is for a total period of 130 months (nearly 11 years), with a rent escalation of 15% every three years. Apple has also paid a security deposit of ₹1.04 crore as part of the deal. The document showed that the lease has a lock-in period of 10 years and 10 months, effective from the commencement date. Also Read: Apple India leases 8000 sq ft of retail space in Bengaluru for ₹2 crore annual rent as Foxconn facility nears completion The lease agreement signed between Apple India and Oberoi Realty shows that the per sq ft rental for the Apple Store is over ₹137 per sq ft. However, experts opine that the rentals in Sky City Mall are up to ₹1,000 per sq ft. The lower rental in this case is due to revenue sharing between Apple India and Oberoi Realty. The agreement shows that above the per-month rental amount, Apple India will share revenue of 2% with Oberoi Realty for up to 42 months and 2.5% thereafter, starting from the 43rd month. Vikas Oberoi, CMD of Oberoi Realty, said during the company's Q4FY25 meeting in April 2025 that the per-square-foot rental in Sky City Mall is between ₹400 and ₹1,000. The per sq ft rental is different in Sky City Mall for different sizes, depending on the floor. "We have rentals up to ₹1,000 a sq ft on carpet area. So, between ₹400 and ₹1,000, it's something like that. So, it all depends on who is coming in. We have got a very nice gold souk, a special area where we have got all the jewellers there. We have very high-end watches in one segment, so they are very interesting. This is literally one of the best malls I would say in the country, the way it is designed, and the feedback that we get, it's really, really nice. And these are the deals signed at Rs.1,000 carpet," Oberoi had said. The mall is part of the Oberoi Sky City project, developed by Oberoi Realty along the Western Express Highway (WEH) in Borivali East, Mumbai. Spanning a gross leasable area (GLA) of approximately 12.07 lakh sq. ft. (with a leasable carpet area of around 7.24 lakh sq. ft.), the mall is a key component of the 25-acre mixed-use development 'Sky City,' undertaken by Incline Realty Private Limited, a wholly-owned subsidiary of the company. According to a March 2023 research report by Motilal Oswal, around 3,200 families are expected to live in the vicinity, offering easy access to the mall. Its strategic location, with connectivity to both exit points of the Metro line, is expected to boost footfall. INOX has already signed on as an anchor tenant with a 10-screen multiplex, while leasing for the remaining space is underway. The report adds that the mall is expected to stabilise by FY25 and has the potential to generate annual rentals of ₹2.5 billion. Also Read: Mumbai real estate: Apple India leases space in Borivali mall for ₹2 cr annual rent to open fourth store in the country According to real estate experts, Borivali has become a magnet for premium retail, boasting at least three prominent high streets featuring luxury jewellery stores, high-end fashion, watches, footwear, and branded department stores. 'Sky City Mall in Borivali East is already commanding rentals of up to ₹1,000 per sq ft, highlighting the growing demand for quality retail space in the suburb,' said Chintan Vasani, partner at Wisebiz Developers, a real estate firm active in the Borivali-Dahisar belt. 'The mall is poised to compete directly with Borivali's established high streets. We're seeing a ripple effect; brands in Borivali West are already renegotiating rental rates. While this may be a short-term correction, the long-term trend is clear: retail brands will continue to expand in Borivali.' The surge in interest is also driven by rising aspirations and disposable incomes of the area's middle and upper-middle class. 'Local consumers show strong, consistent demand, with luxury watch showrooms offering pieces priced between ₹1 lakh and ₹1 crore,' Vasani added. The redevelopment of ageing buildings is also paving the way for new high streets across the city, not just in Borivali. Mira Road, which is around 30% more affordable than Borivali, currently has a larger number of retail high streets and malls, reflecting shifting demand-supply dynamics. With its expanding retail footprint, 'Brand Borivali' is fast emerging as a strong challenger to traditional retail hotspots like Andheri, Bandra, and even South Mumbai, he said. Also Read: Top real estate deal in Mumbai's suburbs: 4 BHK apartment in Borivali sells for ₹14 crore at ₹56,000 per sq ft According to data from CRE Matrix, 122 leave and license agreements have been registered at Sky City Mall, with around 83 of them recorded in 2025 alone. Notable brands in the mall include Titan, Puma, Skechers, Adidas, Safari, Starbucks, and INOX.
