Canon Eyes Double-Digit Growth in India with Expanding Market Horizons

Canon views India as a high-potential market for its traditional and emerging business lines, driven by a robust economy and rising demand. The company sees growth in imaging, printing, health, and semiconductor sectors, aiming for double-digit growth. Latest launches include the Canon EOS R1 and EOS R5 Mark II.

India is becoming one of the most significant global markets for Canon, where the Japanese multinational plans to maintain 'double-digit growth' supported by a burgeoning economy and increasing demand, company officials stated on Wednesday.

Canon Marketing Asia President & COO Tiger Ishii highlighted India's high-growth potential across its imaging and printing businesses, alongside emerging sectors such as commercial printing, medical devices, and semiconductors. The company is poised to play a role in India's advancing semiconductor manufacturing sector.

Canon India President & CEO Toshiaki Nomura expressed confidence in continued double-digit growth in the Indian market, buoyed by factors like rapid GDP growth, urbanization, and a burgeoning middle class. Canon's new product launches, such as the EOS R1 and EOS R5 Mark II, are set to enhance their market footprint.

(With inputs from agencies.)