Today’s Current Affairs: Zoho Plans $700 Million Entry into Chipmaking Industry
Indian software company Zoho is making waves with its recent proposal to venture into chipmaking, seeking incentives from the government. With a potential investment plan of $700 million, Zoho aims to manufacture compound semiconductors, a specialized technology crucial for various commercial applications. This move comes in the wake of India’s push to boost its semiconductor industry, competing with global players like Taiwan.
Semiconductors MCQ:
What is Zoho planning to foray into according to the article?
- Manufacturing smartphones
- Software development
- Chipmaking
- Data analytics
Answer: Chipmaking
Semiconductors MCQ:
What type of semiconductors is Zoho proposing to manufacture?
- Silicon semiconductors
- Compound semiconductors
- Organic semiconductors
- Metallic semiconductors
Answer: Compound semiconductors
Semiconductors MCQ:
Which ministry in India is reviewing Zoho’s proposal for chip manufacturing?
- Finance ministry
- Health ministry
- IT ministry
- Transport ministry
Answer: IT ministry
Semiconductors MCQ:
What is the estimated investment outlay by Zoho for the chip manufacturing project?
- $500 million
- $700 million
- $1 billion
- $1.5 billion
Answer: $700 million
What is Zoho planning to do according to the article?
Zoho is planning to foray into chipmaking and seeking incentives from the federal government for a $700 million investment in manufacturing compound semiconductors.
Why is Zoho seeking financial incentives from the government?
Zoho, like other companies, is seeking financial sweeteners from the government to set up a chip fabrication plant as semiconductors are a key plank of India’s business agenda with a $10 billion package in place to boost the industry.
What type of semiconductors is Zoho proposing to manufacture?
Zoho is proposing to manufacture compound semiconductors, which have specialized commercial applications and are made from alternatives to the more-commonly used silicon in chipmaking.
What are India’s plans regarding the semiconductor industry mentioned in the article?
In February, India gave the go-ahead to construction of three semiconductor plants worth over $15 billion by firms including Tata Group and CG Power, with plans to manufacture and package chips for sectors including defence, automobiles, and telecommunication. India has estimated its semiconductor Market will be worth $63 billion by 2026.
Today's Current Affairs: Indian software firm Zoho is making waves with its plan to enter the world of chipmaking. The company is seeking incentives from the government for this venture, with a proposed investment of $700 million. Zoho, known for its software and subscription services, is looking to manufacture compound semiconductors to cater to specialized commercial applications. The move comes as India aims to boost its semiconductor industry with a $10 billion package to compete with countries like Taiwan. The proposal is currently under review by the IT ministry, with Zoho already identifying a tech partner for the project. This development highlights the growing importance of semiconductors in India's business agenda, with the country eyeing a $63 billion semiconductor Market by 2026.
