Indian engineering and technology services company Cyient has taken a significant step forward by establishing a wholly owned subsidiary, Cyient Semiconductors. This subsidiary has been launched with an impressive investment of approximately Rs8.62bn ($100m), as reported by The Times of India.
With the launch of Cyient Semiconductors, the company has appointed Suman Narayan as the CEO of the newly formed entity. The focus of this semiconductor business will be on scaling application-specific integrated circuit (ASIC) turnkey solutions for its customers.
Suman Narayan expressed his enthusiasm for the semiconductor revolution that India is on the brink of, stating that Cyient is well-positioned to lead this transformation. He emphasized the company’s deep domain expertise and commitment to empowering global and domestic clients with high-value solutions. Narayan believes that the new semiconductor subsidiary will drive next-generation innovations to meet the evolving requirements of customers.
Cyient stated that this strategic move reinforces the company’s dedication to innovation and excellence in the global semiconductor landscape. The new subsidiary has already established teams across various regions, including India, the US, Germany, Belgium, the Netherlands, and Taiwan.
Krishna Bodanapu, Cyient’s executive vice-chairman and managing director, outlined the vision to align Cyient’s semiconductor capabilities with the national agenda set by the Ministry of Electronics and Information Technology. This alignment aims to build a robust semiconductor ecosystem in India, supporting the country’s journey towards self-reliance in the semiconductor industry.
Cyient Semiconductors is set to operate in the fabless semiconductor space, capitalizing on the increasing demand for specialized semiconductor expertise. The company highlighted the growth potential in the global semiconductor market, which is currently valued at around $600bn and projected to reach $2trn by 2032.
“Cyient launches semiconductor subsidiary” was originally reported by Verdict, a GlobalData owned brand.
This article serves as a comprehensive overview of Cyient’s strategic move into the semiconductor industry, showcasing their commitment to innovation and excellence. The launch of Cyient Semiconductors signifies a significant milestone for the company as they aim to play a crucial role in driving technological advancements and supporting India’s semiconductor ecosystem.
