(MENAFN– KNN India)
New Delhi, Jun 6 (KNN) Zoho, a leading software company based in Chennai, has applied to the Indian government, along with a partner, to set up a Semiconductor fabrication facility in India.
Sridhar Vembu, the co-founder of Zoho, confirmed that the application has been submitted, but is awaiting approval from the government after a stringent evaluation process.
Zoho’s foray into semiconductor manufacturing aligns with India’s aspirations to become an important player in the global supply chain for chips.
The Indian government has approved incentives totalling Rs 76,000 crore (USD 9.3 billion) to attract semiconductor companies and establish a manufacturing ecosystem in the country.
If approved, Zoho’s semiconductor facility would join the ranks of four other approved chip manufacturing and assembly plants in India, including a joint venture between the Tata Group and PSMC Group for chip manufacturing.
Zoho, known for its suite of cloud-based business software, is diversifying its operations by venturing into hardware manufacturing.
The company has also announced plans to establish a facility in Tamil Nadu to produce handheld tools, with the aim of creating rural employment opportunities.
(KNN Bureau)
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