India's Semiconductor Surge: A New Milestone in UP

In a significant move, the Union Cabinet has approved the establishment of a new semiconductor unit in Uttar Pradesh, marking a strategic boost for India's semiconductor mission. Prime Minister Narendra Modi hailed the decision as a milestone that would spur growth, innovation, and opportunities, particularly for the country's youth.

The newly approved venture is a collaboration between HCL and Foxconn, both giants in the hardware and electronics sectors. Set to be located near Jewar airport, this plant will focus on producing display driver chips for a variety of devices, ranging from mobile phones and laptops to automobiles and PCs.

With a planned output of 36 million units per month, the unit reinforces India's dedication to developing a robust semiconductor industry. The ecosystem is also expanding with contributions from major equipment manufacturers such as Applied Materials and Lam Research. The initiative is expected to draw an investment of Rs 3,700 crore.

(With inputs from agencies.)