Indian software company Zoho intends to make a substantial investment of USD 700 million to enter the chipmaking sector. The business is looking to the federal government for incentives.
Zoho is the most recent to apply for government financial aid in order to establish a chip manufacturing facility.
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A $10 billion package to support the semiconductor industry is in place as part of India’s business agenda, which aims to compete with nations like Taiwan soon.
Compound semiconductors, which have specific commercial uses and are manufactured from substitutes for silicon, which is more frequently used in chipmaking, are exactly Zoho is aiming to produce.
Sridhar Vembu founder and CEO of Zoho said, that Zoho announced that it was organising a chip design initiative in Tamil Nadu, in the southern state. It has not previously disclosed its intentions to diversify into the chip manufacturing industry.Â
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