Canon is discussing with semiconductor firms, including Tata Group and PSMC, investing in India for semiconductor lithographic equipment.
Canon Inc., Tokyo, Japan, known for cameras and printers, partners with Indian and global firms to establish a semiconductor lithography equipment in domestic and international markets. This equipment plays a crucial role in chip manufacturing. Canon aims to compete with industry leaders like ASML.
The company engages with semiconductor firms investing in India, including Tata Group and Powerchip Semiconductor Manufacturing Corporation (PSMC).
Canon also aims to launch a new subsidiary, Canon Medical Systems India, located in Gurugram. The company focuses on medical machinery such as CT scanners, MRI equipment, and ultrasound systems.
Canon’s AI-enhanced imaging systems are already used in hospitals like AIIMS and Apollo Hospitals. With growing demand in cities like Chennai, Hyderabad, and Mumbai, Canon decides to establish this as a separate business in India.
Canon’s president, Manabu Yamazaki, mentions that they are in early talks with companies planning to build chip factories in India and those expanding electronics manufacturing for items like phones and laptops. Potential partners include Tata Group, Powerchip Semiconductor Manufacturing Corp (PSMC) from Taiwan, and CG Power from Murugappa Group, all of which are working on setting up chip factories in India.
In the race to be among the top three markets in Asia by 2035, Canon plans to contribute 30% of its revenue to the Asis business by 2035. The printing industry in India is worth about Rs 10,000 crore and grows at 3-5% annually. Canon’s print market share is 22-25%, increasing to 35% in the next three years.
For cameras and imaging, 78% of sales come from the enterprise segment, which is dominated by businesses such as weddings, video blogging, content creators, and fashion.
The company is also optimistic about the growth of security systems, surveillance cameras, and video analytics software as the government backs the mission of developing 100 smart cities with an investment of Rs 200,000 crore.
