Cyient sets up a new subsidiary for its semiconductor business – Indian Startup News
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Cyient Ltd, a global Intelligent Engineering company, has announced a significant strategic expansion of its semiconductor business with the creation of a fully-owned subsidiary.
“We are excited to announce this strategic initiative that enhances our capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing,” said Krishna Bodanapu, Executive Vice Chairman and Managing Director of Cyient Limited.
The global semiconductor market is projected to reach a trillion dollars by 2030, and the Indian Electronics and Semiconductor Association (IESA) forecasts the industry’s growth to $100 billion by the same year.
Semiconductors play a critical role in various sectors, including defence, automotive, and telecommunications. These components have become a focal point in the geopolitical landscape, with countries like the US, Japan, and China heavily investing in domestic semiconductor capabilities.
India has also taken significant steps to boost its semiconductor manufacturing capabilities, approving three major semiconductor plant proposals with an estimated investment of Rs 1.26 lakh crore.
Additionally, the country introduced a Rs 76,000 crore incentive scheme in December 2021 to attract global semiconductor players.
Cyient’s new subsidiary is set to focus on turnkey ASIC design and chip sales through a fabless model, particularly for analog mixed-signal chips. This move is supported by Cyient’s extensive portfolio of over 600 IPs covering various functions and technology nodes.
“We are grateful for the continued support from our stakeholders in this journey,” Bodanapu added, emphasizing that this subsidiary would open new avenues for Cyient to enhance its value to stakeholders. The dedicated focus on specialized turnkey ASIC design and chip sales aims to adapt to market cycles and address the technology and capital requirements of the industry more effectively.
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