Adani and Zoho’s exit won’t mean chips are down for India

The recent decisions by Adani Group and Zoho Corporation to call off their semiconductor manufacturing projects have sparked concern among critics, some of whom have prematurely concluded that India’s ambitious Rs 76,000-crore semiconductor incentive programme is floundering. The truth is that rather than a sign of systemic failure, these decisions reflect the natural shake-out in a nascent but rapidly evolving industry, one that requires strategic depth, technological partnerships, and long-term vision.