Zoho suspends $700 million chipmaking plan in latest setback for India

NEW DELHI (Reuters) -Indian software firm Zoho has suspended its year-long pursuit of a $700 million plan to expand into chip manufacturing, its co-founder said on Thursday, confirming a Reuters story and dealing another blow to the Indian government's semiconductor plans. Zoho struggled to find the right technology partner required to advise on complex chipmaking processes, one source familiar with the matter told Reuters earlier. Reuters reported on Wednesday that Indian billionaire Gautam Adani's group has also paused discussions with Israel's Tower Semiconductor for its $10 billion chip project following an internal evaluation by the Indian group.