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Zoho Eyes Semiconductor Foray, Plans $700 Mn Investment To Set Up Chip Fabrication Unit

Inc42 · 1y ago

Zoho Eyes Semiconductor Foray, Plans $700 Mn Investment To Set Up Chip Fabrication Unit

SaaS giant Zoho is reportedly seeking approval from the Indian government to set up a chip fabrication plant and enter the semiconductor space. The company has proposed a $700 million investment plan and plans to manufacture compound semiconductors, which have specialized commercial applications. Zoho has already identified a tech partner for the project and is awaiting review from the IT ministry. This move aligns with the Indian government's efforts to promote semiconductor manufacturing in the country, with expectations that India's semiconductor industry will exceed $150 billion by 2030.

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Related News

Zoho halts $700 mn chip plan, hits India’s semi aspirations

Inshorts · 3m ago

Zoho halts $700 mn chip plan, hits India’s semi aspirations

Zoho Corporation has paused its $700 million semiconductor project due to the lack of a suitable tech partner, stalling India’s chip manufacturing goals. The Karnataka-based unit was expected to create 460 jobs. CEO Sridhar Vembu emphasized the need for technological self-reliance. Zoho now refocuses on software, while the government continues semiconductor investment efforts.

Centre to expand semiconductor scheme, looks to get raw material suppliers: ISM chief

Economic Times

Economic Times · 11m ago

Centre to expand semiconductor scheme, looks to get raw material suppliers: ISM chief

The Indian government plans to expand its semiconductor chip fabrication and packaging scheme under the second phase of the India Semiconductor Mission. Around 20 proposals have been made by semiconductor chip fabrication units, display fabrication companies, raw material suppliers, and chip packaging companies. The goal is to attract more investment in the sector, promote the growth of the semiconductor industry, and strengthen the ecosystem by bringing in other companies such as raw material suppliers and gas companies. Currently, a proposal by Tower Semiconductor to set up a chip fabrication unit is under consideration.

Cabinet greenlights Tata Group's chip fab unit in Gujarat; first semicon plant in northeast approved

Economic Times

Economic Times · 1y ago

Cabinet greenlights Tata Group's chip fab unit in Gujarat; first semicon plant in northeast approved

The Indian government has approved the construction of three semiconductor chip fabrication units in Gujarat and Assam, with an estimated investment of INR 1.26 lakh crore (approximately $17 billion). Tata Electronics will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC) in Gujarat, attracting an investment of INR 91,000 crore. Tata Semiconductor Assembly and Test will establish a unit in Assam with an investment of INR 27,000 crore. Additionally, CG Power will collaborate with Renesas Electronics and Stars Microelectronics to set up a semiconductor unit in Gujarat with an investment of INR 7,600 crore.

Zoho suspends $700-mn chipmaking plan in latest setback for India

VCCircle

VCCircle · 3m ago

Zoho suspends $700-mn chipmaking plan in latest setback for India

Zoho has suspended its $700-million chip manufacturing plans due to difficulties in finding a suitable technology partner for the complex process, marking a setback for India's semiconductor ambitions. This follows billionaire Gautam Adani's group pausing its $10 billion chip project with Tower Semiconductor. Zoho's founder, Sridhar Vembu, had envisioned a $400-million investment in Karnataka to diversify operations. The suspension poses challenges to India's goal of becoming a global chip manufacturing hub.

Semiconductor mission may Get $10billion booster shot

Economic Times

Economic Times · 11m ago

Semiconductor mission may Get $10billion booster shot

The Indian Semiconductor Mission may receive a second budgetary allocation of up to $10 billion. This funding will be needed if the government approves a chip fabrication unit by Israeli firm Tower Semiconductor and the Adani Group, as well as other proposed projects currently under evaluation. The first phase of the Indian Semiconductor Mission has already exhausted its initial funds, including approvals for a chip fabrication unit by the Tata Group. The Maharashtra state government has recently approved a $10 billion semiconductor fab unit by Adani Group and Tower.

India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market

Inc42 · 1y ago

India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market

Tower Semiconductor from Israel and Tata Group from India have proposed large-scale chip manufacturing projects in the state of Gujarat, with a combined investment of $17 billion. Tower Semiconductor plans to scale up its plant to eventually produce 80,000 silicon wafers per month, while Tata Group intends to construct a chip fabrication unit and a chip-packaging plant. These proposals are part of the Indian government's efforts to boost chip manufacturing within the country, which is projected to reach a market value of $55 billion by 2026.

Tower's plan for first Indian chip foundry likely to get nod today

Economic Times

Economic Times · 1y ago

Tower's plan for first Indian chip foundry likely to get nod today

The Indian Cabinet is expected to approve incentives for Israeli semiconductor company Tower's proposal to establish a chip fabrication unit in India. This marks the country's first pure-play chip foundry project, estimated at $9-10 billion. The government will subsidize 50% of the investment under the Indian Semiconductor Mission, with additional subsidies from states. Proposals for outsourced assembly and testing (OSAT) units by HCL Group-Foxconn Group and the Tata group are also likely to be approved. The investments aim to bolster India's semiconductor manufacturing and fabrication ecosystem.

Zoho earmarks $200mn for compound fab unit in Tamil Nadu

Livemint

Livemint · 1y ago

Zoho earmarks $200mn for compound fab unit in Tamil Nadu

Chennai-based company Zoho Corp. has applied for a license to build a compound semiconductor fabrication plant in Tamil Nadu, with an allocated budget of $200 million. The project aims to bring silicon carbide (SiC) chip manufacturing to the region, and Zoho plans to license the technology from Clas-SiC. The government's subsidies for compound semiconductor fabs would support the project's development. Zoho also recently announced updates to its primary revenue source, Zoho CRM, including AI-powered analytics and support for open-source AI models. These initiatives reflect Zoho's efforts to expand its presence in the semiconductor and enterprise software markets.

India's industries must foray into cutting-edge tech to attract more chip fabrication units: Intel's Christoph Schell

Economic Times

Economic Times · 1y ago

India's industries must foray into cutting-edge tech to attract more chip fabrication units: Intel's Christoph Schell

Intel's CEO, Pat Gelsinger, stated that semiconductor supply chains in Asian countries such as India, China, Malaysia, Taiwan, Vietnam, and Indonesia are becoming increasingly significant for the company. Intel aims to have semiconductor fabrication or packaging and manufacturing units in these regions. However, Intel isn't planning to set up a semiconductor fabrication unit in India in the near future. Intel plans to invest over $100 billion in its semiconductor capacities in the US over the next five years. Christoph Schell, Intel's Chief Commercial Officer, emphasized the importance of local industries adopting cutting-edge technologies to attract semiconductor fabrication units to India.

'Semiconductor packaging unit in Assam’

Livemint

Livemint · 1y ago

'Semiconductor packaging unit in Assam’

Assam is set to have a ₹25,000 crore semiconductor packaging plant in collaboration with the Assam government and Tata Group. The government aims to attract semiconductor fabrication and packaging units through a ₹76,000 crore financial assistance scheme. US-based Micron Technology has already initiated setting up a packaging unit in Gujarat. The Indian government has received four proposals for semiconductor manufacturing plants and 13 proposals for chip assembly units. The development aligns with the government's focus on equipping young Indians with skills in areas like AI, cybersecurity, and semiconductors through initiatives like futureSKILLS.

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