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Bhubaneswar: Zoho Corporation\u2019s Co-founder and CEO, Sridhar Vembu, has firmly denied recent reports suggesting that the company is investing Rs 3,034 crore in a semiconductor manufacturing plant in Odisha. The reports had claimed that Silectric Semiconductor Manufacturing Pvt Ltd, a company formed by Zoho\u2019s directors, planned to establish a silicon carbide semiconductor manufacturing facility in Khurdha district.<\/p>\n
In a post on X (formerly Twitter), Vembu addressed the rumors, stating, \u201cI do not like to comment on rumors and speculation, but today\u2019s news item on our semiconductor investment is inaccurate.\u201d He further clarified that the investment proposal is still pending with various authorities and no final decisions have been made.<\/p>\n
The initial reports had indicated that the Odisha High Level Clearance Authority (HLCA) had approved the proposal as part of a broader initiative to attract significant investments in the Electronics System Design and Manufacturing (ESDM) sector. However, Vembu\u2019s statement has put these claims to rest, emphasizing that Zoho is not yet ready to announce any concrete plans regarding semiconductor investments.<\/p>\n
This development comes amidst a global surge in semiconductor demand, driven by advancements in artificial intelligence and other technologies. India, aiming to become a key player in the semiconductor industry, has seen several proposals for new manufacturing facilities.<\/p>\n<\/p><\/div>\n
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[ad_1] \u00a0 Bhubaneswar: Zoho Corporation\u2019s Co-founder and CEO, Sridhar Vembu, has firmly denied recent reports suggesting that the company is investing Rs 3,034 crore in a semiconductor manufacturing plant in Odisha. The reports had claimed that Silectric Semiconductor Manufacturing Pvt Ltd, a company formed by Zoho\u2019s directors, planned to establish a silicon carbide semiconductor manufacturing […]<\/p>\n","protected":false},"author":1,"featured_media":45474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[],"class_list":{"0":"post-45473","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"jetpack_featured_media_url":"https:\/\/thenftimes.com\/wp-content\/uploads\/2024\/09\/Zoho-CEO-Sridhar-Vembu-Denies-Reports-of-Rs-3034-Crore-Investment-in-Odisha-Chip-Plant.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/45473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/comments?post=45473"}],"version-history":[{"count":1,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/45473\/revisions"}],"predecessor-version":[{"id":45475,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/45473\/revisions\/45475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media\/45474"}],"wp:attachment":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media?parent=45473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/categories?post=45473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/tags?post=45473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}