Canon Eyes Indian Market: Tapping into Semiconductor Growth

Canon sees India as a significant market for its semiconductor lithography equipment, aligning with the country's potential in chip manufacturing. The company is in talks with manufacturers to provide technology and services, aiming for double-digit growth across its diverse business segments.

Canon, a leader in imaging and optical products, is keenly eyeing the Indian market for its semiconductor lithography equipment. The firm is currently in negotiations with companies seeking to set up chip fabrication facilities in the country, signaling a vast opportunity in this sector.

According to Toshiaki Nomura, Canon India's President and CEO, many chip manufacturers are considering India as a viable hub for semiconductor production. "This is a significant opportunity for us," he emphasized, highlighting Canon's ability to contribute technology and services to strengthen India's semiconductor landscape.

As part of its growth strategy, Canon is targeting double-digit growth across its various business portfolios. Besides semiconductors, the company is expanding its reach in healthcare and is making inroads into tier II and III cities, capitalizing on India's rapid urbanization and economic growth factors.

(With inputs from agencies.)