India, May 14 -- The Union cabinet has given its approval to HCL and Foxconn joint venture (JV) to set up a semiconductor unit under the India Semiconductor Mission. The unit, which will see the two entities cumulatively invest INR 3,700 Cr, will come up near Jewar Airport in Uttar Pradesh's Noida.

The government said that the unit will manufacture display driver chips for mobile phones, laptops, automobiles, among other devices. The plant is set to have a design output capacity of 36 Mn units per month, designing 20,000 wafers per month.

"With the demand for semiconductor increasing with the rapid growth of laptop, mobile phone, server, medical device, power electronics, defence equipment, and consumer electronics manufacturing in Bhar...