India, May 14 -- Centre has approved a joint venture between HCL and Foxconn to set up a Rs.3,706 crore semiconductor manufacturing plant in Uttar Pradesh's Jewar. Information & Broadcasting minister Ashwini Vaishnaw said that the proposed plant will manufacture display driver chips for mobile phones, laptops, automobiles and other devices.

The unit is also set to create 2,000 jobs while producing 20,000 semiconductor wafers per month, he said. The new semiconductor unit in Jewar will be one of six such facilities in India, with production expected to begin in 2027. The joint venture will be located in the Yamuna Expressway Industrial Development Authority (YEIDA) region. The unit will attract an investment worth Rs.3,700 crore.

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