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 services 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 eyeing 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 informed PTI.
This is a “good opportunity for us”, and the Tokyo-based group can contribute by its know-how, services on this section 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 actually on the negotiation stage. I can not disclose this data now, however we have now our floor dialogue ongoing.”
For Canon, India is “one of the crucial vital markets” globally, where the company is growing with double digits and expects to continue that pace of growth here supported by tailwinds, such as a growing economy, rapid urbanization, and young demography, among. others.
“In 2024, we’re fairly near double-digit development, and for coming years, I’m very optimistic and assured to realize double-digit development 12 months by 12 months,” Nomura said, adding that “all business portfolios for us are exhibiting the expansion”.
