India, May 14 -- The Cabinet's approval of the HCL-Foxconn OSAT joint venture marks a strategic milestone in India's semiconductor journey.

"With an investment of Rs.3,700 crore, the project brings large scale advanced packaging and testing capabilities specifically for display driver ICs-addressing a critical gap in India's display and electronics value chain. This isn't just about building infrastructure-it reflects India's growing maturity in semiconductor manufacturing, with trusted partners, strategic intent, and industrial scale," commented Ashok Chandak, President IESA and SEMI India.

Foxconn, one of the world's largest electronics manufacturers, brings world-class expertise in chip packaging and testing-core to the downstream se...