PM Narendra Modi Launches India Chip Private Limited. Why This Semiconductor Move Matters for India’s Future

In Shorts

• India Chip Private Limited is a joint semiconductor venture by HCL Group and Foxconn
• The facility will manufacture display driver chips and process 20000 wafers monthly
• Project expected to create over 3500 jobs and boost India’s tech ecosystem

India has taken another major step toward becoming a global electronics manufacturing hub with the launch of India Chip Private Limited. Prime Minister Narendra Modi laid the foundation stone for the semiconductor facility virtually on February 21, 2026, marking a crucial milestone in the country’s push for self reliance in advanced technologies.

India Chip Private Limited is a joint venture between the HCL Group and Foxconn. The two companies have partnered to establish an Outsourced Semiconductor Assembly and Test facility at the Yamuna Expressway Industrial Development Authority in Greater Noida, Uttar Pradesh.

The upcoming unit will focus on manufacturing display driver chips, which are essential components used in smartphones, laptops, televisions, automobiles and other electronic devices. Once operational, the facility is expected to process around 20000 wafers every month, significantly boosting domestic chip supply across industries.

The project involves an investment of approximately Rs 3700 crore and is expected to become operational by 2028. It is also projected to generate more than 3500 direct and indirect employment opportunities while encouraging the development of local supply chains and semiconductor ecosystem partners.

Speaking at the event, the Prime Minister highlighted that semiconductor manufacturing is vital for India’s technological future. He noted that wherever semiconductor facilities are established, they lead to the growth of design centres, startup ecosystems and innovation driven industries.

The launch of India Chip Private Limited aligns with the government’s broader goal of reducing dependency on global chip imports and building a strong domestic electronics manufacturing ecosystem. With rising demand for semiconductors worldwide, the initiative is expected to position India as a reliable global destination for high end chip manufacturing and innovation in the coming years.