Cyient Ltd, an engineering solutions company, has announced the expansion of its semiconductor business by setting up a fully-owned subsidiary.
“The move will help us improve our capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing,” Krishna Bodanapu, Executive Vice-Chairman & Managing Director, Cyient Ltd, said.
As the global semiconductor market is expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) forecasts the industry’s growth to $100 billion by 2030, the company would be well-positioned to tap opportunities, he said.
- Also read: Cyient group Q1 PAT up 52% at ₹177 cr
“Cyient’s credentials in the semiconductor electronics sector through Cyient DET and Cyient DLM have enabled us to set up this subsidiary to drive a dedicated focus on turnkey ASIC design and chip sales through a fabless model for analog mixed-signal chips,” he said in a statement on Friday.
- Also read: India will be in top seven semiconductor manufacturing nations by 2030: Vaishnaw
Cyient’s portfolio of over 600+ IPs covering a range of functions and technology nodes, long-standing engagements with key customers, and global capabilities give the company a strategic edge to achieve significant growth in this space.
