Foxconn Technology Group and HCL Group are forming a joint venture to establish a semiconductor outsourced assembly and testing (OSAT) unit in India. Foxconn’s $37.2 million investment secures a 40% equity stake in the venture. The collaboration aims to enhance India’s semiconductor industry and supply chain resilience, leveraging Foxconn’s BOL (build-operate-localise) model. The move aligns with the Indian government’s efforts to boost semiconductor manufacturing, including a $10-billion production-linked incentive scheme. This partnership follows other semiconductor-related investments in India, signaling the growing interest and support for the industry in the country.
Foxconn and HCL Join Forces for Semiconductor Outsourced Assembly in India
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