In a strategic move aimed at bolstering its presence in India, Taiwanese electronics giant Foxconn has unveiled plans to construct a chip assembly and testing facility in the country. Partnering with HCL Group, Foxconn’s ambitious endeavor involves an investment of ₹1,200 crore, as detailed in a recent regulatory filing.
This initiative underscores Foxconn’s commitment to India’s semiconductor sector, following its previous announcement in November 2023 to invest over $1.6 billion through its subsidiary, Hon Hai Technology India Mega Development. The decision to establish the new facility comes in the wake of Foxconn’s dissolution of its joint venture with the Vedanta Group last year.
Notably, Foxconn’s foray into India’s semiconductor industry is not new. In a bid to strengthen its foothold, the company revealed plans last month to invest US$37.2 million alongside HCL Group for a chip packaging and testing facility, post the termination of its partnership with Vedanta.
Moreover, Foxconn’s collaboration with the Tamil Nadu government for the construction of a new electronic components facility underscores its ambitious expansion plans. With an investment of ₹1,600 crore, this venture is slated to be located in the Kancheepuram district near Chennai, distinct from Foxconn’s existing campus where iPhones are assembled.
As Foxconn’s initiatives unfold, the industry awaits further insights into the specifics of its operations and product offerings.
