Cabinet approves HCL-Foxconn JV to set up India’s semiconductor unit for Rs 3,700 crore

In a move to strengthen India’s position in the global semiconductor landscape under India Semiconductor Mission, the Union Cabinet on Wednesday approved a joint venture between HCL and Foxconn to set up the country’s sixth semiconductor unit. During the Cabinet briefing, IT Minister Ashwini Vaishnaw said that the HCL-Foxconn JV will set up the semiconductor plant near the upcoming Jewar airport in the Yamuna Expressway Industrial Development Authority (YEIDA) region.