Zoho CEO denies ₹3,034 crore investment in Odisha semiconductor plant; proposal under review.

Zoho CEO Sridhar Vembu has refuted claims of a ₹3,034 crore ($400 million) investment in a semiconductor plant in Odisha, stating the proposal is still under review by authorities and no decisions have been finalized. Earlier reports suggested that Silectric Semiconductor, a subsidiary of Zoho, aimed to establish a silicon carbide manufacturing unit. The company is pursuing incentives under India's production-linked incentive scheme for chip design and manufacturing.

September 19, 2024
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