ENA Sectors 2024-06-06 17:18:41 <p><span style="font-size:14px"><strong>New Delhi, Jun 6 (KNN)</strong> 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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">Zoho's foray into semiconductor manufacturing aligns with India's aspirations to become an important player in the global supply chain for chips.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">Zoho, known for its suite of cloud-based business software, is diversifying its operations by venturing into hardware manufacturing.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38104 https://knnindia.co.in/news/newsdetails/sectors/zoho-plans-to-enter-semiconductor-manufacturing-in-india 2024-06-06 17:18:41 knnindia.co.in