NEW DELHI: Japanese imaging and optical merchandise main Canon believes that it has an excellent alternative in India for its semiconductor lithography tools required for chip fabrication, and it’s in negotiations with companies setting up amenities right here, mentioned its India President and CEO Toshiaki Nomura.
Though Canon didn’t disclose names, it mentioned there are immense alternatives on this, as many chip producers are actually eying India as a brand new vacation spot for semiconductor manufacturing.
“A lot of Chip manufacturers are eyeing India as a new manufacturing place. We are discussing with all those chip manufacturers to give our product and service,” Nomura instructed PTI.
This is a “good opportunity for us”, and the Tokyo-based group can contribute by means of its expertise, services and products on this phase of the Indian market, he added.
“We are installing the equipment for them to manufacture chips through our technology and the product. We help chip manufacturers build a strong facility in India. Once the chip manufacturer sets up the facility in India, we will install our equipment and through our excellent product and the support we can contribute to Indian semiconductor industries,” Nomura added. “We are now at the negotiation stage. I cannot disclose this information now, but we have our ground discussion ongoing.”
For Canon, India is “one of the most important markets” globally, the place the corporate is rising with double digits and expects to proceed that tempo of progress right here supported by tailwinds, equivalent to a rising financial system, speedy urbanisation, and younger demography, amongst others.
“In 2024, we are quite close to double-digit growth, and for coming years, I am very optimistic and confident to achieve double-digit growth year by year,” Nomura mentioned, including that “all business portfolios for us are showing the growth”.
