Zoho aims to open offices in 100 rural areas

14 Jul 2022 , 02:23 PM

Sridhar Vembu, the founder and CEO of Zoho Corporation, announced on Tuesday that he intended to revolutionize 100 rural regions around India by opening offices, following the example of the Tenkasi district in Tamil Nadu.

“Investing in people is preferable to investing in real estate. To implement what we are doing in Tenkasi in about 100 rural regions is my objective (in India). At an event hosted by the Department of Personnel and Administrative Reforms of the Karnataka government, Vembu stated that the creation of 1,000—2,000 employees will revolutionize the whole district.

With only six employees when it first began, Zoho’s office in Tenkasi, a small town in Tamil Nadu, now employs 500 people. According to Vembu, the presence of the software firm has contributed to a 50—60% increase in overall real earnings over a seven-year period and has aided in the construction of new highways, retail centers, movie theatres, and schools in rural areas. According to him, the business recruited a third-party consulting firm last year to assess the impact. In 2019, Tenkasi has now been named the state’s new district’s administrative center.

“Talent is readily accessible in the hinterlands. Businesses in Bengaluru lament the lack of talent. The national and state governments of Karnataka jointly organized a symposium on bringing entrepreneurs and government together for effective governance. He said: “But if I go to Tirunelveli and put out a requisition, over 1,000 people will come up.

The business claimed to now have three of these rural centers and is looking for places to open offices in Uttar Pradesh’s tier III and IV towns.

According to ROC filings, Zoho’s income from operations increased by more than 22.3% to finish at Rs5,230 crore for FY21, and the company recorded a net profit of Rs1,917.7 crore for the year, more than doubling year over year. This makes Zoho undoubtedly India’s most lucrative unicorn. The company had 10,800 workers worldwide.

In order to lessen its reliance on imports from nations like Japan, Germany, and New Zealand, Vembu also pushed for India to “perfect” the technique of producing capital goods. “My current endeavor involves creating capital goods for industries. For our economic future, mastery of these capital commodities is crucial, the speaker stated.