According to Business Standard and Financial Express, India-based Cyient is expanding its semiconductor business by creating a new subsidiary. This subsidiary will focus on designing and selling specialized chips (ASICs), a move Cyient believes will position them as a major player in India's growing semiconductor industry.
Krishna Badanapu, vice chairman and managing director at Cyient, stated that this strategic initiative aims to strengthen the company's design and manufacturing of ASICs using a turnkey model.
Highlighting the projected trillion-dollar global semiconductor market by 2030 and the Indian Electronics and Semiconductor Association's (IESA) forecast of a US$100 billion Indian industry by the same year, Bodanapu expressed confidence in Cyient's strong position to capitalize on these growth opportunities.
He further explained how Cyient's existing experience in the semiconductor electronics sector through Cyient DET and Cyient DLM facilitates the creation of this subsidiary.
Amid the Indian government's aspiration to build a self-reliant semiconductor ecosystem, and as governments worldwide are investing billions of dollars in similar efforts, India-based electronics and technology firms are seizing the opportunity. Besides Tata Group's ambition to set up a wafer fab and an ATMP facility, L&T Semiconductors has also entered the IC design business by acquiring iVP Semi.
Meanwhile, signifying India's rise in the semiconductor supply chain, SEMI will hold its first SEMICON India event in September near New Delhi. Nikkei reported that Japan-based semiconductor equipment suppliers have expressed interest in participating in the event. Horiba, a Japan-based semiconductor measuring equipment supplier, recently announced plans to build a manufacturing facility in India.
This development underscores the growing importance of India in the global semiconductor industry and the increasing interest from both domestic and international players in the country's semiconductor ecosystem.
