Latest news with #HCL-Foxconn
Time of India
19-05-2025
- Business
- Time of India
HCL-Foxconn nod gives industry plans off Yamuna expressway big boost
Noida: Cabinet's approval last week of the HCL-Foxconn semiconductor-manufacturing unit has put wind in the sails of plans to turn the Yamuna Expressway area into a large manufacturing hub as an extension of Noida, with the upcoming Noida International Airport as its nucleus. Investments to the tune of Rs 12,000 crore from eight companies are lined up in the region under the Yamuna Expressway Industrial Development Authority's FDI and Fortune 500 policy. The HCL-Foxconn joint venture, a Rs 3,706-crore project that is to come up on 48 acres in Sector 28, will manufacture display driver chips for mobile phones, laptops, automobiles, PCs, and myriad of other devices that have da isplay. Poised to be India's sixth semiconductor and testing unit, the project got the Cabinet's approval on May 14. Other major investments proposed in the region are a Rs 4,500-crore facility by Escorts Group, which will build a tractor parts and engine unit. To be set up in collaboration with Japan's Kubota Corporation, the facility is proposed to come up on 200 acres in Sector 10. Also lined up is a Rs 1,080-crore readymade garments and accessories unit by Pine Valley Ventures Pvt Ltd on a 20-acre plot in Sector 10. Of the three companies allotted land so far is Fuji Silvertech Concrete Pvt Ltd, an Indo-Japanese joint venture that proposes to set up a precast concrete product manufacturing unit on 20 acres in Sector 32. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Scam Exposed: What They Won't Tell You about zero trust! Expertinspector Click Here Undo The Rs 345-crore facility was allotted land under UP's new FDI policy in Nov 2023 and is expected to create 5,844 jobs. TI Medical Private Limited, a Rs 211-crore joint venture between Fortune India 500 company Murugappa Group's Tube Investments of India (TII) and Premji Invest, is the second firm that was allotted 11 acres in the Medical Device Park in Sector 28 to manufacture dialysis machines, dialysers and anaesthesia kits. Minda Corporation Limited, in collaboration with Korean Daesung and Indian Loconav, has got 22 acres in Sector 24 to manufacture ignition switches and steering locks for automobiles. The Rs 524-crore project is expected to create 2,275 jobs. Minda Corporation has proposed to set up a second unit to manufacture wire harnesses and other automotive components. For the Rs 508-crore facility, it wants land on 10 acres in Sector 10. Havells India Ltd also proposes to set up a Rs 800-crore unit for manufacturing fans, air conditioners, lighting, switchgear and cables and has sought 50 acres in Sector 28 under the Electronics Manufacturing Cluster (EMC 2.0) scheme. Officials say, Havells is to act as the anchor investor for a 206-acre electronics manufacturing cluster along the Yamuna Expressway, which was approved last month by the Centre. The cluster will feature flatted-factory complexes, modern industrial infrastructure and dedicated zones for electronics manufacturing. Poly Medicure Ltd has also proposed to set up a medical equipment manufacturing unit on 7 acres in the Medical Device Park. The company plans to invest Rs 150 crore. "The Noida International Airport and dedicated industrial parks have made the Yamuna region highly attractive for both domestic and global investors. These investments will not only create 22,000 jobs but also position the area as a key manufacturing hub in North India," said the CEO.
India.com
15-05-2025
- Business
- India.com
100 times faster internet that 5G! Modi govt invests Rs 300 crore in THIS new technology for...
File/Representational India 6G: India will soon have internet speeds that are a 100 times faster than the current 5G technology as the Narendra Modi government has already invested well over Rs 300 crore to develop 6G technology. Addressing a presser on Wednesday, Union Minister of State for Telecommunications Chandrashekhar Pemmasani revealed that India is among the top six countries globally in filling 6G technology patents, and has approved more than 111 research projects, with funds over Rs 300 already released. 100 times faster than 5G The minister informed that India's 6G technology will use Terahertz frequency bands, which will enable blazing fast internet speed of up to 1 terabits/seconds (125 GB), which is around 100 times faster than the currently existing 5G technology. He said that 6G technology will mark another milestone in India's digital revolution, and will revolutionize existing industries as well as help in the emergence of new ones. Pemmasani expressed confidence that India's vast talent pool of engineers and scientists will help the country emerge as a global leader in 6G technology in the near future, and stated that India has enough time for research and innovation to ensure we become a technologically self-reliant nation. According to experts, 6G technology is estimated to contribute a staggering $1 trillion to the Indian economy by 2035. Additionally, indigenously-built 6G technology will also make the country's communication system more secure, robust, and immune to electronic warfare from enemy nations. Modi Cabinet approves India's 6th semiconductor unit In related news, Prime Minister Narendra Modi-led Cabinet on Wednesday approved the country's sixth semiconductor unit under the ambitious India Semiconductor Mission, which aims to position India as a global leader in semiconductor manufacturing. The semiconductor plant, an HCL-Foxconn joint venture will be set up at an estimated cost of Rs 3,706 crore in Jewar, Uttar Pradesh, and will manufacture chips display driver chips for smartphones, laptops, automobiles, PCs, and other electronic gadgets Five other seminconductor units are already being built in Assam and Gujarat.
Mint
15-05-2025
- Business
- Mint
No change to Apple's India iPhone plan for now amid Trump's strictures
NEW DELHI : Apple Inc. is not mulling any immediate change to its strategy of manufacturing more devices in India, said a person aware of developments at the Cupertino technology giant on Thursday. As a result, plans to use India as a hub for making more iPhones to supply the US market are on track, as per the company's current strategy—wherein it seeks to more than double the number of iPhones it makes in India at the moment. The comments come in light of US President Donald Trump's statement at an event in Doha, where he claimed to have conveyed to Tim Cook, Apple's chief executive, the message not to ramp up manufacturing in India. Also Read: New ₹3,700-crore HCL-Foxconn JV to help India localise display manufacturing 'I said to him, my friend, I am treating you very good [sic]. You are coming up with $500 billion, but now I hear you are building all over India. I don't want you building in India. You can build in India, if you want to take care of India because India is one of the highest tariff nations in the world, so it is very hard to sell in India," Trump said at the event. India key to Apple's production growth For Apple, India is already a key manufacturing destination, accounting for more than 10% of all iPhones sold every year. Last month, Mint reported that the company is set to more than double its iPhone manufacturing in India within the next three years, with net production crossing 50 million units. Cook, to be sure, has already confirmed that the company is ramping up production in India. On 1 May, at the company's March quarter earnings call with analysts, the executive said that he expected 'the majority of iPhones sold in the US will have India as their country of origin." Also Read: Home-made chips: India's GPUs set for year-end trials Therefore, the plan appears to be in place for now. An email sent to Apple for a comment on the matter did not immediately receive a response. Trump, meanwhile, also claimed that India has offered the US 'a deal" to charge 'literally no tariffs." 'I said Tim, we are treating you really good, we put up with all the plants you built in China for years. We are not interested in you building in India. India can take care of themselves," he added. Industry stakeholders have said that the instability of the US trade tariffs, enforced by Trump on 2 April, could continue to hurt US companies. Navkendar Singh, associate vice-president at IDC India, said that the uncertainty 'does not mean much for India's manufacturing plans, since the regulatory regime does not have a stable narrative that it is currently operating on." Also Read: Murugappa's chip testing plant to begin supplies next year, says JV partner 'This also leaves the India market as exposed as before, showing that India remains dependent on the US for the goals that it has set for itself," Singh added. Apple's share price on the US stock exchange Nasdaq was down 0.5% at the time of publishing.
Entrepreneur
15-05-2025
- Business
- Entrepreneur
Cabinet Approval of HCL-Foxconn JV a Fillip for Semicon Manufacturing in India
India's semiconductor market is expected to grow from USD 52 billion in 2024 to USD 103.4 billion by 2030, according to a report by the India Electronics and Semiconductor Association (IESA). You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The Union Cabinet's approval of the INR 3706-crore HCL-Foxconn outsourced semiconductor assembly and test (OSAT) facility under the India Semiconductor Mission is a major fillip for the semiconductor manufacturing industry in India. The government said that already five semiconductor units are in advanced stages of construction in the country. With this sixth unit, Bharat moves forward in its journey to develop the strategically vital semiconductor industry, Union Minister Ashwini Vaishnaw said during the announcement. The proposed unit will be located near the upcoming Jewar airport, within the Yamuna Expressway Industrial Development Authority (YEIDA) region. The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and various other display-equipped devices. It is designed to handle 20,000 wafers every month, with an output capacity of 36 million units per month. "With an investment of INR 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. This isn't just about building infrastructure—it reflects India's growing maturity in semiconductor manufacturing, with trusted partners, strategic intent, and industrial scale," said Ashok Chandak, President, IESA and SEMI India. Foxconn, one of the world's largest electronics manufacturers, is expected to bring world-class expertise in chip packaging and testing—core to the downstream semiconductor supply chain. HCL Group on the other hand is expected to bring robust technology services, engineering strength, and global relationships, and add 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 operations—truly aligning with the vision of 'Make in India, Make for the World' with great support from center and states. This project can become landmark as it can create major value addition in India's electronics manufacturing for mobiles, laptops, consumer, automotive, etc.," Chandak added. India's semiconductor ecosystem is growing rapidly as cutting-edge design infrastructure has been established in several states. "Students and entrepreneurs in 270 academic institutions and 70 startups are working on world class latest design technologies for developing new products. 20 products developed by the students of these academic students have been taped out by SCL Mohali," Vaishnaw said. India's semiconductor market is expected to grow from USD 52 billion in 2024 to USD 103.4 billion by 2030, according to a report by the India Electronics and Semiconductor Association (IESA). The report attributes this growth to major sectors including mobile handsets, information technology (IT), telecommunications, consumer electronics, automotive, aerospace, and defence. Key global players such as Applied Materials and Lam Research have set up operations in India. US-based Applied Materials recently made a USD 50 million investment to establish an R&D facility in Bengaluru. Similarly, Lam Research said it will invest over INR 100 billion (USD 1.2 billion) in the next few years in Karnataka. In April this year, Axiro Semiconductor, subsidiary of CG Power and Industrial Solutions (part of Murugappa Group), opened a fabless semiconductor design centre in Bengaluru. Axiro said it is poised to fuel innovation across high-impact sectors including 5G/6G, strategic defence, satellite communications, and industrial IoT. CG Power and Industrial Solutions recently invested USD 36 million, marking CG Power's formal entry into the semiconductor design business. Axiro said its fabless model enables a sharp focus on chip design and IP creation while leveraging global foundries for production, ensuring rapid scalability, cost optimization, and high performance. Vellayan Subbiah, Chairman of CG Power and Industrial Solutions said that "breakthrough innovations" and an "unwavering commitment to excellence" will continue to propel Axiro Semiconductor forward. The company aims to deliver cutting-edge solutions for AI, automotive, and IoT applications, further accelerating India's integration into the global semiconductor value chain.
Time of India
15-05-2025
- Business
- Time of India
BluSmart fleet on the block, HCL-Foxconn semicon JV
BluSmart fleet on the block, HCL-Foxconn semicon JV Want this newsletter delivered to your inbox? Also in the letter: BluSmart lenders put EVs for sale to recover dues; Uber, Evera potential takers But first: EVs up for sale: Who's taking them? Delhi-based Evera has added 300 of these EVs to its fleet and is in talks to lease another 800-1,000 vehicles. Uber-backed Everest Fleet is also exploring a deal, but is yet to finalise one. Also Read: New chip on the block: UP will host HCL-Foxconn JV Driving the news: Tell me more: Making progress: These include: Tata Electronics' fab in Dholera Micron's assembly, testing, marking, and packaging (ATMP) unit in Sanand CG Powers' outsourced semiconductor assembly and test (OSAT) facility in Sanand Kaynes' OSAT in Sanand Tata Semiconductor Assembly and Test (TSAT) facility in Assam. Also Read: Deeptech startups snagged $324 million in first four months of the year Major deals and investors: Netradyne: $90M from Qualcomm Ventures, Point72 Ventures SpotDraft: $54M from Trident Capital Infinite Uptime: $35M from Tiger Global, GSR Ventures Tonbo Imaging: $21M from Florintree What's more: Other Top Stories By Our Reporters Capillary Tech buys assets of customer loyalty services firm Kognitiv: Karnataka HC rejects PhonePe plea in cyber fraud case: Karnataka eyes gig fund rollout by August end: Ixigo Q4 net profit doubles, operating revenue up 72%: Complement 1 raises $16 million: Global Picks We Are Reading Lenders and lessors are planning to sell EVs on the BluSmart fleet to recover their dues. This and more in today's ETtech Morning Dispatch.■ Adobe CEO with ETtech■ Karnataka gig fund■ Capillary Tech buys Kognitiv assetsLenders and leasing firms are looking to sell 1,500-2,000 electric vehicles (EVs) that were part of BluSmart's fleet, following the ride-hailing platform's suspension of operations last Indian Renewable Energy Development Agency (Ireda) said on Wednesday it has filed an insolvency petition against Gensol Engineering for defaulting on Rs 510 crore in had extended loans to Gensol for EV purchases. However, a Sebi interim order in April revealed that Gensol and BluSmart cofounders Anmol Singh Jaggi and Puneet Singh Jaggi diverted those funds for personal Non-Banking Financial Companies, investment platforms, climate-focused lenders, and even high-net-worth individuals are now looking to offload the EVs they financed or leased to BluSmart. Some have already taken possession of the is set to get its sixth semiconductor facility under the India Semiconductor Mission, after the Cabinet greenlit a Rs 3,706 crore plant to be built in Jewar, Uttar up as a joint venture between HCL Group and Foxconn, the plant, which will start production in 2027, is projected to create 2,000 jobs. It will produce display driver chips for mobile phones, laptops, automobiles, PCs, and other March, ET reported the HCL-Foxconn joint venture was also in discussions with Larsen & Toubro (L&T) and Taiwanese giant CTCI to bring on board an EPC (engineering, procurement, and construction) partner for its outsourced semiconductor assembly and testing (OSAT) recently approved semiconductor facility takes the count of such units in the country to six. Five of them, cleared over the past few years, are in advanced stages of investments in India surged in the first four months of 2025 , reaching $324 million across 35 deals, more than double the $156 million raised from 21 deals during the same period in 2024, according to Venture Intelligence commercial applications have boosted investor interest in deeptech startups. Government support for the sector has further strengthened the funding environment. However, growing interest has intensified competition, with smaller players now vying alongside major Reddy, founder, Capillary TechnologiesThe deal will provide Capillary Tech access to over 30 enterprise clients of Kognitiv, including leading hotel companies in Australia and New Zealand, the UK, the Middle East, and the US, the company said in a news release.'Confidentiality must coexist with accountability,' the court said, dismissing PhonePe's plea challenging cyber police's authority to seek information about its state government has sent the Karnataka Platform-based Gig Workers (Social Security and Welfare) Bill 2024 to Raj Bhavan, requesting the issuance of an Travenues Technology, the parent company of online travel aggregator Ixigo, experienced a 128% year-on-year increase in net profit to Rs 16.7 crore, while operating revenue surged 72% to Rs 284 Jr founder Karan Bajaj's new healthtech startup, Complement 1, raised $16 million in a seed funding round led by Owl Ventures and Blume Ventures.■ US warns against using Huawei chips 'anywhere in the world' ( FT ■ Elon Musk's Grok AI can't stop talking about 'white genocide' ( Wired ■ Cisco systems boosts outlook after posting higher profit, sales ( WSJ
