New chip on the block: UP will host HCL-Foxconn JV

The Rs 3,706 crore HCL-Foxconn outsourced semiconductor assembly and test (OSAT) joint venture, which received Cabinet approval on Wednesday, has been hailed as a crucial step toward strengthening the domestic smartphone manufacturing ecosystem. The facility, which will be built in Jewar in Uttar Pradesh and produce display driver chips, will provide an impetus to India’s localisation efforts, especially in the booming smartphone manufacturing ecosystem, experts said.