After Adani, Zoho Shelves Its $700 Mn Semiconductor Plan

Cloud software major Zoho has put its 700 million semiconductor investment plans on hold, joining Adani in reassessing India's chip manufacturing landscape. The company cited uncertain global demand and technological challenges as key reasons. Zoho had announced ambitions to enter chip design and manufacturing in 2023, aiming to serve automotive and industrial sectors. This development raises questions about India's ability to attract private investment in semiconductors beyond government-backed initiatives like the India Semiconductor Mission.