Canon, the Japanese multinational corporation that is into imaging and optical products, is poised to tap into India’s growing semiconductor manufacturing market. The company is negotiating with firms establishing chip fabrication facilities in the country, according to Toshiaki Nomura, President and CEO of Canon India. While Canon refrains from naming specific clients, it acknowledges the burgeoning opportunities as global chip manufacturers increasingly look to India as an ideal manufacturing destination. "Many chipmakers are considering India for their new production facilities," Nomura said in an interview. "We are actively engaging with these manufacturers to offer our products and services."

Canon’s contribution to India's semiconductor ambitions

Describing it as a promising opportunity, Nomura emphasised that Canon’s technology, products, and services can play a pivotal role in the Indian semiconductor market. “We are committed to helping chip manufacturers establish robust facilities in India. Once the factories are set up, we will provide our cutting-edge equipment and unparalleled support to bolster their production capabilities,” he added.

Negotiations underway

Though still in the discussion phase, Canon is confident about its engagement with potential clients. "We are in the negotiation stage and cannot disclose specifics at this time, but discussions are progressing on the ground," Nomura said.

India is a key growth market

Canon considers India one of its most vital markets globally. The company has been witnessing double-digit growth in the region, driven by factors such as a rapidly expanding economy, urbanisation, and a youthful population. Nomura expressed optimism about sustaining this growth momentum, supported by favourable conditions in the Indian market.