Homegrown SaaS unicorn Zoho is preparing to enter the chip industry again with a $700 million investment. The business remained silent on the development, but rumors have it that Zoho has been looking to the government for incentives. Additionally, a commission is supposedly reviewing the idea, and the IT ministry has apparently requested the company to clarify the proposal further.

• Zoho, a leading SaaS unicorn, plans a $700 million investment in chipmaking, seeking government incentives.
• Founder Sridhar Vembu announced a semiconductor project in Tenkasi, Tamil Nadu, focusing on compound semiconductors.
• Government approved $15.2 billion for three semiconductor fabs, including Tata Electronics' Dholera facility.
• Dholera fab aims for 50,000 wafers/month, targeting three billion chips annually, with advanced automation.
• Prime Minister Modi inaugurated semiconductor fabs in Dholera and an OSAT facility in Jagiroad, aiming for global semiconductor dominance by 2029.