Taiwanese tech giant Foxconn, a long-time Apple Inc. partner, is diversifying from China and joining forces with HCL Group to establish a chip packaging and testing facility in India. Foxconn’s subsidiary, Foxconn Hon Hai Technology India Mega Development, will invest $37.2 million for a 40% stake, with the remaining held by HCL. This strategic move comes amidst Foxconn’s increased investments in India, motivated by geopolitical tensions with China.
The collaboration aims to set up an outsourced semiconductor assembly and testing (OSAT) facility in India. OSAT facilities do not engage in chip fabrication but provide third-party chip packaging and testing services. HCL Group, leveraging its strong engineering and manufacturing background, views this partnership as a strategic expansion within its portfolio.
Foxconn’s commitment to investing over $2 billion in India over the next five years has gained momentum. Earlier investments include a new electronics manufacturing facility in Telangana and agreements with the Tamil Nadu and Karnataka governments for mobile component and semiconductor projects, respectively.
Amidst geopolitical challenges, Foxconn Chairman Young Liu has highlighted India as a market with “positive energy,” emphasizing the company’s intent to strengthen its presence in the country.
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