Is Zoho Investing For Semiconductor Plant In Odisha? Here’s What Its Founder Says…

New Delhi: The CEO of Zoho— a cloud software major— Sridhar Vembu, on Friday denied claims about investing Rs 3,034 crore in a semiconductor plant in Odisha.

According to previous news reports, Silectric Semiconductor Manufacturing Pvt Ltd—set up by the directors of Zoho—had apparently planned to build a silicone carbide manufacturing unit in Khurda district. “I do not like to comment on rumours and speculation but today’s news item on our semiconductor investment is inaccurate,” Vembu wrote on X.

The reports had also claimed that the Zoho proposal was discussed by the Odisha government on Thursday. It was also reported that the state government had cleared three proposals from the Electronics System Design and Manufacturing (ESDM) sector, including Silectric Semiconductor Manufacturing’s proposal.

But, the investment proposal was still pending with various authorities and decisions had not yet been made, the CEO claimed.

In May, Vembu had mentioned that the company was not ready to declare anything regarding investments in a semiconductor fabrication unit. That time, he had responded to reports stating that his company would pump millions of dollars into a chip manufacturing plant.

In March, the Zoho Co-founder had announced the company’s plans to set up an advanced chip design facility in Tenkasi district in Tamil Nadu.

With the increasing demand for semiconductor due to introduction of AI in several sectors, around 150 new fabrication units will be needed to meet the industry’s $1 trillion target by 2030.

Presently, five semiconductor manufacturing facilities are coming up in India with a total investment of over Rs 1.52 lakh crore, reports claim.