On a test track: Foxconn's venture with HCL puts sheen on OSAT biz in India

A lot could depend on how well Micron's project takes off

It is said to be a business with high volumes, but wafer-thin margins. However, being a key element in the making of semiconductor chips — which have widespread usage in electronic items, computers, and cars — Outsourced Semiconductor Assembly and Test, or OSAT, has become a burgeoning global business projected to be worth $47 billion this year and $70 billion by 2029.

The Indian government has turned its attention to OSATs in a bid to make the country a strategic player in the global semiconductor sweepstakes. It is offering a $10 billion financial package earmarked for semiconductor projects, which includes