India Approves Foxconn-HCL Semiconductor Joint Venture with US$433M Investment

[India Approves Foxconn Semiconductor Joint Venture]

According to Nikkei, the Indian government approved on Wednesday a joint venture between Foxconn and local tech company HCL to establish a facility in India. The Indian government will invest US$433 million to build a plant capable of producing 20,000 wafers per month. This move aligns with the strategy of the government led by Indian Prime Minister Modi to establish India as a manufacturing hub for electronic products.