PM to Join Groundbreaking of HCL-Foxconn Chip Facility

24 Feb 2026 CW Team

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.

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.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Infrastructure Urban

30 May 2026

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..