Cyient Ltd on Friday announced the strategic expansion of its semiconductor business with the establishment of a fully owned subsidiary. This decision, the company said, marks a leap forward in Cyient’s commitment to innovation and excellence within India’s growing semiconductor landscape.
Krishna Bodanapu, Vice Chairman & Managing Director, Cyient Limited, said, “We are happy to announce this strategic initiative that enhances our capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing. As the global semiconductor market is expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) forecasting the industry’s growth to USD 100 billion by 2030, we are well positioned to capitalize on the vast opportunities for growth and influence in this evolving market.”
He further added that Cyient’s credentials in the semiconductor electronics sector through Cyient DET and Cyient DLM have enabled the company to set-up this subsidiary.
Cyient has a portfolio of over 600+ IPs covering a range of functions and technology nodes, longstanding engagements with key customers, and global capabilities. “The subsidiary will strengthen the position in the industry by delivering world-class specialized turnkey ASIC design and chips sales under focused and capable leadership, adapting to market cycles, and more effectively addressing this industry’s technology and capital requirements,” it said.
Earlier in March, Cyient approved three semiconductor plant proposals, aiming to enhance its semiconductor manufacturing capabilities. These projects involve an estimated investment of Rs 1.26 lakh crore. India had earlier approved a Rs 76,000 incentive scheme towards building a semiconductor ecosystem.