Modi Virtually Lays Foundation Stone Of HCL-Foxconn Joint Venture Project

Prime Minister Narendra Modi today virtually laid the foundation stone of the HCL-Foxconn Joint Venture project – India Chip Pvt. Ltd. – in the Yamuna Expressway Industrial Development Authority (YEIDA), Uttar Pradesh. The establishment of the HCL-Foxconn semiconductor facility marks a significant milestone in India’s journey towards technological self-reliance and reflects the Prime Minister’s vision of positioning India as a trusted global destination for high-end electronics and semiconductor manufacturing.

Addressing the gathering through video conferencing, Mr Modi said that the establishment of the HCL-Foxconn semiconductor facility in Uttar Pradesh is a step towards technological self-reliance. It will boost India’s presence in the global chip ecosystem. Speaking on the occasion, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said that in the last 11 years, Prime Minister Narendra Modi has established India as a powerhouse in the field of electronics. He said, earlier the electronics manufacturing was very minimal in the country, but at present, the country is witnessing electronics manufacturing worth 12 lakh crore rupees.

He said electronics is the third largest export item of the country, and Uttar Pradesh is a major contributor to it. He said the plant, which is being set up in Noida, will produce 3 crore 60 lakh chips. Referring to the India AI Impact Summit 2026, Mr Vaishnaw said that 118 countries and organisations participated in this grand event. He said that 86 countries have signed and endorsed the New Delhi Declaration on AI Impact.

On Railways, Mr Vaishnaw said that 20 thousand crore rupees have been provided to Uttar Pradesh in the Union Budget 2026-27. Uttar Pradesh Chief Minister Yogi Adityanath also addressed the event.(UPDATED ON 21ST FEBRUARY 2026)