Canon could soon expand manufacturing to India, according to an interview with Canon’s President and CEO for India, Toshiaki Nomura. The leader for the region said that the company is in talks about setting up facilities for manufacturing semiconductor chips.
If the negotiations move forward, the move would enable Canon to expand manufacturing into India, as well as grow the its presence in the country. The company did not share what, specifically, would be manufactured in India if the talks are successful. However, Nomura notes that he believes the region has potential for growth across all portfolios. Outside of imaging and printing, Canon also has branches for medical imaging, semiconductors and displays.
Canon has been manufacturing its own CMOS sensors since 2000. The company currently has several manufacturing centers in Japan, responsible for everything from the semiconductor sensors themselves to assembling mirrorless cameras and lenses.
In the interview with Business Standard, Nomura described India as one of the key markets for Canon currently experiencing double-digit growth. Economic growth in the area could also be a key factor. Nomura also noted that other manufacturers were also considering the area, but didn’t name specifics.
While the plans to bring some manufacturing to India are only tentative, the move could have far-reaching implications. For example, Canon reportedly had to temporarily pause several factories during the COVID-19 pandemic because of limited availability of parts from China.
In 2016, the company’s production was affected by the earthquakes that hit the region. Expanding its manufacturing across multiple countries could in theory help prevent supply issues, though it’s unclear what parts would be made in India if the talks are successful.
With Canon having experienced shortages almost non-stop since the pandemic (with the EOS R5 Mark II back-ordered for up to six months in some regions), this could be a major move towards getting stock back on shelves.
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