Cyient sets up a new subsidiary for its semiconductor business

As India shifts towards advancing its chip technology landscape, Cyient Ltd on Friday announced the strategic expansion of its semiconductor business with the establishment of a fully owned subsidiary.

“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 $100 billion by 2030, we are wellpositioned to capitalize on the vast opportunities for growth and influence in this evolving market,” said Krishna Bodanapu, Vice Chairman and Managing Director of Cyient Limited.