Zoho's CEO Sridhar Vembu said Friday the company was not ready to announce anything related to investments that could be made in a semiconductor fabrication unit, even as speculation on the issue was rife.
Responding to speculation that Zoho is keen to invest huge funds in a chip manufacturing/design unit, Vembu said, “We are not ready to announce anything yet.” He, however, said that such technology was crucial for the country, and companies should come forward and commit to investment. “All I can say right now is that this technology is vital for our nation and we need companies to step up and make the investment,” he added.
Speculation was rife Thursday that Zoho was chasing incentives under the productionlinked incentive scheme to set up a chip design and manufacturing unit in the country. This follows an earlier announcement in March by the company to set up an advanced chip design facility in Tamil Nadu's Tenkasi district.
In his post, Vembu said that more investment was required in industrial R&D and called for industry-academia collaboration to handle the complexity of foundational technologies driving the economy. He said he was personally committed to integrating R&D with rural development initiatives, but couldn't say more at the moment.
Industry data recently pointed out that the current electronics manufacturing—valued at nearly $103 billion—requires $26 to $31 billion worth of semiconductor investments. Prime Minister Narendra Modi laid the foundation for three semiconductor projects worth Rs 1.25 lakh crore in March, marking a significant step towards building the country's semiconductor capabilities.
Read also | Unveiling the Powerhouse: realme GT 6T's Triple Threat
Read also | Apple Unveils Latest Accessibility Enhancements for iPhone and iPad
