HCL Group, Foxconn partner for chip testing plant in India

Apple supplier Foxconn and HCL Group will partner to establish a semiconductor assembly and testing facility in India. Foxconn’s India unit will own a 40% stake in the joint venture with a $37.2 million investment. The companies aim to build an ecosystem and foster supply chain resilience for the domestic industry. Foxconn is also planning to set up a semiconductor fabrication plant in India for local chip manufacturing, with an additional investment of $1.67 billion. In August, Foxconn announced a $600 million investment in two projects in Karnataka.