Indian software firm ZOHO is planning to enter the chip industry. For this purpose, the company is also trying to get incentives from the country’s government. Reuters reported this news citing two sources related to the matter.
According to a source, ZOHO initially planned to invest $700 million.
Founded in 1996, ZOHO’s head office is located in Tamil Nadu, India. The company operates software and related subscription businesses in at least 150 countries around the world. The company is doing business with software giants Microsoft and Salesforce.
It is said to be the latest company to apply for financial incentives from the Indian government to set up a chip manufacturing plant.
Semiconductor is going to be an important sector in Indian business. The country wants to beat Taiwan in the next few years with a package of 10 billion dollars.
