Foxconn Invites Bids for Chip Plant in India in Partnership with HCL Group

7 Feb 2024 , 12:28 PM

Foxconn, the Taiwanese electronics giant, has initiated the bidding process for the construction of a chip assembly and testing plant in India. The company is partnering with HCL Group for the project, with an initial investment of ₹1,200 crore.

Foxconn’s subsidiary, Foxconn Hon Hai Technology India Mega Development Pvt Ltd, is inviting bids to build the plant on owned land.

The joint venture will see Foxconn Hon Hai Technology India Mega Development invest $37.2 million for a 40 % stake in the project. This move is part of Foxconn’s expansion in India amid geopolitical tensions and economic uncertainty affecting its operations in China.

Foxconn has been a key player in iPhone manufacturing in India, contributing 68 % of total production. On January 25, Young Liu, chairman of Foxconn, was honored with the Padma Bhushan by the Indian government.

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