Core Insights - Foxconn has received approval from India's cabinet to establish a semiconductor plant in a joint venture with HCL Group, with an investment of 37 billion Indian rupees ($435 million) [1] - The plant will be located in Uttar Pradesh and is expected to start operations in 2027, focusing on manufacturing display driver chips for various devices [2] - Initially, the facility will serve as a semiconductor assembly and test (OSAT) site, providing packaging and testing services for chips manufactured elsewhere [3] Group 1: Investment and Manufacturing Strategy - The new plant aims to reduce Apple's reliance on China and enhance its manufacturing capabilities in India [1][4] - The facility is projected to have a capacity of 20,000 wafers per month, producing 36 million units monthly [4] - Apple is already expanding its manufacturing base in India, including local assembly of iPhones and plans for other devices like AirPods [7] Group 2: Government Support and Incentives - The Indian government offers fiscal support covering up to 50% of capital expenditure for semiconductor facilities under its state-run semiconductor scheme [8] - Foxconn's subsidiary announced plans to invest $37.2 million for a 40% stake in the joint venture with HCL [8] - The approval follows previous initiatives, including a $15 billion incentive program for building semiconductor plants in India [10]