Japanese technology giant Canon is betting big on the rapidly growing Indian market. Having grown at double digit for the last two years, the company is all geared up to maintain this momentum going forward as well. Backed by its recently-unveiled growth strategy, where the focus will be on India-specific products and expanding the channel coverage by deepening its distribution in Tier-II and III cities, the $29-billion company is aiming to increase India’s contribution to 30 per cent of Asia (without Japan) by 2035.
Apart from expanding its core businesses (printing, imaging and surveillance), the company for which India has emerged as a new growth engine in Asia, is also looking to strengthen its industrial (semiconductor manufacturing equipment) and medical (medical devices) businesses in India.
Highlighting India’s crucial role in its global growth strategy, Canon has announced its outlined plans for strengthening its overall business in India. Reaffirming the brand’s commitment to India, these announcements were made during Canon’s strategy meet in Mumbai, attended by key global leadership.
Speaking on the occasion, Hideki Ozawa, Executive Vice President of Canon Inc, Chief Representative of Canon Asia Group, Chairman & CEO of Canon Marketing Asia, said, “As Canon continues to etch its global legacy across diverse domains, we recognize that India stands at the heart of our strategic ambitions. India’s dynamic economy, vibrant culture, and tech-savvy population make it a critical market for Canon. And our existing segments (managed by Canon India Pvt Ltd), be it cameras, printers, or office solutions have thrived here, driven by the trust and loyalty of Indian consumers.”
“India remains a beacon of opportunity for us and recognizing the immense potential that the market holds, we are aiming to strengthen the semiconductor and medical business. As Canon’s legacy meets India’s boundless potential, we hold an optimistic vision for Canon India to emerge as the leading company in the region by 2035, thereby propelling Canon Asia to secure its position as the top sales region globally,” added Ozawa.
Developing talents
Commenting on the semiconductor and flat panel display industry, Kazunori Iwamoto, Advisory Director, Deputy Chief Executive of Optical Products Operations, Unit Executive of Semiconductor Production Equipment Unit of Canon Inc. said, “In the semiconductor business in India, we aim to introduce our advanced skillsets and knowledge to India, taking advantage of our over 50 years history in the exposure equipment business. Canon provides a variety of manufacturing solutions for the cutting-edge electronics industry. In addition, not only by our cutting-edge technology and wide range of products, but also by developing talents through our global training curriculum, we will contribute to India’s semiconductor industrial growth.”
Sharing insights on the expansion of medical business, Koh Yamada, President, Canon Medical Systems India Pvt Ltd said, “Canon Medical Systems India Pvt. Ltd. is a subsidiary of Canon Medical Systems Corporation in Japan. Canon Medical Systems has a comprehensive portfolio of advanced medical imaging from diagnostic and interventional imaging systems to healthcare IT solutions for the wider healthcare enterprise.”
“Recognized as a world leader in innovation, Canon Medical Systems continues to develop breakthrough technology and applications including using AI, to support diagnostic imaging and therapeutic needs, all while optimizing patient outcomes. We understand that more and more people are suffering from non-communicable, life-style diseases such as cardiovascular diseases, cancer, and diabetes, and hope that our unique technologies can contribute and help medical professionals better deal with them.
Commenting on the Semiconductor and Flat Panel Display industry, Kazunori Iwamoto, Advisory Director, Deputy Chief Executive of Optical Products Operations, Unit Executive of Semiconductor Production Equipment Unit of Canon Inc. said, “In the semiconductor business in India, we aim to introduce our advanced skillsets and knowledge to India, taking advantage of our over 50 years history in the exposure equipment business. Canon provides a variety of manufacturing solutions for the cutting-edge electronics industry.”
“Our latest technology, called Nanoimprint lithography equipment, imprints a pattern on a mask onto a wafer to form a fine pattern. In addition, not only by our cutting-edge technology and wide range of products, but also by developing talents through our global training curriculum, we will contribute to India’s semiconductor industrial growth.” u
Arbind Gupta
arbind.gupta@businessindiagroup.com