The HCL Foxconn joint venture has named Shikhar Malhotra as chairman to lead its semiconductor assembly and test operations in India. The appointment comes as the venture ramps up plans for a display driver IC OSAT facility in Jewar, Uttar Pradesh.
Malhotra, who also chairs HCL Capital, will provide strategic direction as the company builds the plant from the ground up.
In a statement, the venture said the move reflects its commitment to bolstering India’s emerging semiconductor manufacturing ecosystem.
Facility Details and Timeline
The OSAT plant, backed by an investment of INR3,700 crore, is slated to go live by 2028. Prime Minister Narendra Modi laid the foundation stone in February at the Yamuna Expressway Industrial Development Authority zone in Jewar, close to the upcoming Noida International Airport.
Structured as a 60:40 joint venture between the HCL Group and Taiwan’s Foxconn, the facility will focus on packaging and testing display driver ICs and power management chips for a range of end markets once operational.
Strategic Significance
Known as India Chip, the venture is moving quickly to establish a state of the art DDIC OSAT facility in Jewar. The company noted in a LinkedIn post that Malhotra’s leadership will be key as it scales up capability and aligns with national semiconductor objectives.
The plant is one of 12 approved semiconductor projects under the India Semiconductor Mission, spread across six states. Uttar Pradesh hosts this single OSAT project, while Gujarat remains the primary hub with six projects, including Tata’s silicon fab and Micron’s ATMP plant.
With the HCL Foxconn JV now under Malhotra’s chairmanship, attention turns to execution, workforce development, and supply chain readiness as India works toward its goal of capturing 10 percent of global semiconductor packaging by 2030.
