Cyient Ltd has announced a new subsidiary to grow its semiconductor business. This move comes as India works to improve its chip technology. The company aims to strengthen its ability to design and make specific types of chips called ASICs.
Krishna Bodanapu, Vice Chairman of Cyient, said this step will help them take advantage of the growing semiconductor market, which could reach $1 trillion by 2030. The Indian Electronics and Semiconductor Association predicts the industry in India will grow to $100 billion by the same year.
Semiconductors are important for sectors like defense, cars, and telecommunications. Countries such as the US, Japan, and China are investing heavily to develop their own semiconductor technology.
In March, India approved three new semiconductor plants, with a total investment of about Rs 1.26 lakh crore. This is expected to boost India’s electronics manufacturing. India’s effort to build a semiconductor industry began with a Rs 76,000 crore incentive scheme approved in December 2021 to attract global companies. The first big success came in June 2023 when Micron announced it would build a facility in Gujarat. Micron plans to invest $2.75 billion in the factory, with $825 million coming from them and the rest from government incentives.
Cyient Ltd is an Indian technology and engineering services company that provides solutions in various sectors, including aerospace, defense, telecommunications, and utilities. Founded in 1991, Cyient focuses on digital transformation and engineering services, helping clients improve their operations and innovate through advanced technology.
The company emphasizes collaboration and aims to deliver high-quality services by leveraging its skilled workforce and global presence. With a strong commitment to sustainability, Cyient also works on initiatives that support environmental and social responsibility.
