With the majority of technology in India’s manufacturing industry being imported and lacking key know-how, Zoho, a big technology company, is establishing a company in the Kongu district of Tamil Nadu to focus on research and development in the sector, according to a top official.
Sridhar Vembu, co-founder and CEO of Zoho, told reporters that there was a need to bring in import substitution and create high-end technology at the regional level for the benefit of the manufacturing sector.
Sridhar stated that the industrial sector, such as textiles, motors and pumps, batteries for electric cars, and machine tools, imports machines and technology, and that Zoho will form a business and invest Rs 50 to 100 crore in eight sectors, with a matching investment from local firms.
