Canon Targets Chip Makers Setting Up in India

Japanese imaging and optical products major, Canon, sees a significant opportunity in India for its semiconductor lithography equipment, essential for chip fabrication. The company is currently in talks with several firms establishing facilities in the country, according to Toshiaki Nomura, Canon India's President and CEO.

Nomura highlighted that numerous chip manufacturers are considering India as a new hub for semiconductor manufacturing, creating a "good opportunity" for Canon. The Tokyo-based group aims to contribute through its advanced technology, products, and services to this growing segment of the Indian market.

Canon is in the negotiation stage with undisclosed chip manufacturers, helping them to set up strong facilities in India. Once these facilities are established, Canon plans to install its equipment and provide excellent product support, aiming to bolster the Indian semiconductor industry.

India is a crucial market for Canon globally, where the company is experiencing double-digit growth. Supported by factors such as a growing economy, rapid urbanization, and a young demographic, Canon expects this growth trajectory to continue in the coming years.