HCL Group will partner with Foxconn Group to establish an OSAT (outsourced semiconductor assembly and testing) and test facility in India. An OSAT plant packages, assembles, and tests foundry-made silicon wafers, turning them into finished semiconductor chips.

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Foxconn India will own a 40% stake in the joint venture with a USD 37.2 million investment. HCL did not disclose any financial details.

Foxconn stated that through this investment, the partners aim to build an ecosystem and foster supply chain resilience for the domestic industry. Foxconn is already planning to set up a semiconductor fabrication plant in India.

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The government has offered USD 10 billion in incentives to start local manufacturing. Furthermore, Foxconn invested more than $1 billion to expand its manufacturing facility in Karnataka.

The facility will help reduce India's dependence on imported chips, especially for mobile phones and other electronics. This can lead to cheaper products for consumers and a stronger domestic electronics industry. The project is expected to create thousands of jobs, both directly and indirectly. This can have a positive impact on the local economy.

About Foxconn

Foxconn, officially known as Hon Hai Precision Industry Co., Ltd., is a Taiwanese multinational electronics contract manufacturer headquartered in Tucheng, New Taipei City, Taiwan.

It is the world's largest contract manufacturer of electronics, also known as an original equipment manufacturer (OEM). Foxconn primarily manufactures electronic products for major technology companies like Apple, Samsung, Sony, Microsoft, Dell, and HP.

Foxconn does not design or sell its own products; instead, it manufactures products for other companies under contract. This business model allows Foxconn to benefit from economies of scale and leverage its relationships with major technology companies. Foxconn has manufacturing facilities in over 20 countries, including China, Vietnam, Brazil, and Mexico.

Semiconductor Foundry Project Saudi Arabia

In partnership with the Saudi Arabian government, Foxconn is establishing a "Foundry" project in the futuristic city of Neom. This project aims to produce not only semiconductors but also components for electric vehicles and other electronics. 

About HCL Group

The HCL Group is a diversified Indian conglomerate headquartered in Noida, India, with a presence across various sectors. It's a household name in India and a major player in the global technology scene. It's a pioneer in the Indian IT industry, introducing the 8-bit microprocessor-based computer in 1978, well ahead of its global peers.

HCL boasts extensive expertise across various stages of the complex IC manufacturing process, from lithography and deposition to testing and post-silicon validation. They offer a range of services, including design support, equipment engineering, and process optimization, partnering with major semiconductor companies like Intel and fabless manufacturers.

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