Canon, known for its cameras, is discussing providing its semiconductor lithography equipment with both Indian and global companies. This equipment is crucial for making chips, and Canon aims to compete with industry leaders like ASML.
Canon’s president, Manabu Yamazaki, mentioned that they are in early talks with companies planning to build chip factories in India, as well as 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.
Canon has also launched a new subsidiary in India, Canon Medical Systems India, located in Gurugram. This subsidiary will focus 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 decided to establish this as a separate business in India.
Canon sees India as one of its top three markets in Asia and expects it to become the largest by 2035. The printing industry in India is worth about Rs 10,000 crore, growing at 3-5% annually. Canon’s market share in printing is currently 22-25%, with a goal to grow to 35% in the next three years.
Regarding the government’s push for local production of IT hardware, Yamazaki stated that Canon would respond to any new regulations as they materialize, despite not currently having a manufacturing plant in India.
Canon also sees strong sales in cameras and imaging equipment, particularly for weddings, video blogging, content creation, and fashion. Additionally, the company is optimistic about the growth of security systems, surveillance cameras, and video analytics software, driven by the government’s initiative to develop 100 smart cities with an investment of Rs 200,000 crore.
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