Zoho-owned Silectric Semiconductor shelves chip fab plan in Mysuru

In a major loss for Karnataka, Zoho chief scientist Sridhar Vembu announced on Thursday that his company was shelving its semiconductor fabrication investment plan “since this business is so capital intensive, it requires government backing.”Zoho wanted to be sure of the technology path before taking taxpayer money, Vembu said. The company did not have the confidence in the technology, so its board decided to shelve the idea for the time being until it finds a better technical approach, he said.

Karnataka IT minister Priyank Kharge told ET, “Once…