The Prime Minister will participate in the groundbreaking ceremony of the HCL-Foxconn joint venture project, India Chip Pvt. Ltd., at the Yamuna Expressway Industrial Development Authority in Uttar Pradesh on 21 February 2026 and will address the gathering around five pm via video conferencing. The participation is expected to mark the formal commencement of construction activities at the site. The event will be held under the auspices of the Prime Minister's Office. The facility will be established as an Outsourced Semiconductor Assembly and Test facility by India Chip Pvt. Ltd. under the Modified Scheme for Semiconductor Assembly, Testing, Marking and Packaging. The project has been described as a significant milestone in the national drive for technological self-reliance and in efforts to develop high-end electronics and semiconductor manufacturing. The site selection at YEIDA is intended to leverage regional infrastructure and create a cluster for electronics production. The investment for the scheme totals more than Rs 37 billion (bn), converted from the original Rs 3,700 crore figure, and is intended to strengthen domestic manufacturing capabilities and reduce import dependence. The project is expected to support key sectors such as mobile phones, tablets, laptops, automotive systems and consumer electronics, thereby contributing to the resilience of global supply chains. It has been presented as aligned with government policy to encourage technology transfer and enhance competitiveness in the semiconductor value chain. The initiative is expected to foster innovation, skill development and the transfer of manufacturing expertise, and to catalyse growth in ancillary industries. The facility is likely to generate thousands of direct and indirect employment opportunities for engineers, technicians and other professionals. Stakeholders have indicated that the joint venture will contribute to building a robust and self-reliant electronics manufacturing ecosystem and to elevating India’s stature in the global semiconductor landscape.