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Zoho Group is set to establish a ?3,034 crore semiconductor manufacturing venture in Odisha, through its newly formed company, Silectric Semiconductor Manufacturing Pvt Ltd. The project, located in the Khurdha district, will focus on silicon carbide production, a key material used in power electronics for electric vehicles (EVs), automotive, and renewable energy sectors.
The proposal, which was formed in March 2024, was reviewed by the Odisha government, with approval coming from the states High-Level Clearance Authority (HLCA). As part of a broader ?39,000 crore investment package, the HLCA sanctioned 12 major industrial projects, including Silectrics venture. Sampad Chandra Swain, Odisha’s Minister of State for Industries, Skill Development, and Technical Education, shared the news on social media platform X, noting the projects importance in the Electronics System Design and Manufacturing (ESDM) sector.
Silectrics facility will establish a complete silicon carbide value chain, from the production of ingots to wafers, MOSFETs, modules, and packaging. With an annual capacity of 72,000 units for each component, the company’s fabrication line will operate under both captive and foundry service models. Silectric has also applied to the Ministry of Electronics and Information Technology (MeitY) under the Indian Semiconductor Mission, aiming to boost India’s semiconductor capabilities.
The company’s key directors—Navneethan Jai Anand, Radha Vembu, Dandapani Rajendran, and Krishnan Ramabadran—are also directors of Zoho Group. In May, Zoho’s CEO and co-founder, Sridhar Vembu, hinted at the company’s plans to enter semiconductor manufacturing, though official announcements were not made at that time.
This venture aligns with Indias larger goal to become a global hub for semiconductor production. With other major players like Tata Group and Vedanta also entering the semiconductor space, the initiative is part of the government’s drive to reduce dependence on foreign suppliers and build a robust domestic semiconductor industry. |
