Cabinet clears HCL Group-Foxconn semiconductor plant in UP

India’s efforts to establish itself as a global semiconductor hub received another boost this week, as the Union Cabinet approved a new chip manufacturing facility in Uttar Pradesh’s Jewar region. The project is a joint venture between HCL Group and Taiwanese electronics giant Foxconn.

The upcoming unit will be India’s sixth semiconductor facility and will involve an investment of ₹3,706 crore. It will manufacture display driver chips — components used in smartphones, laptops, personal computers, and vehicles — with a planned production…