Canon Eyes Double-Digit Growth in India with Expanding Market Horizons

India is becoming one of the most significant global markets for Canon, where the Japanese multinational plans to maintain 'double-digit growth' supported by a burgeoning economy and increasing demand, company officials stated on Wednesday.

Canon Marketing Asia President & COO Tiger Ishii highlighted India's high-growth potential across its imaging and printing businesses, alongside emerging sectors such as commercial printing, medical devices, and semiconductors. The company is poised to play a role in India's advancing semiconductor manufacturing sector.

Canon India President & CEO Toshiaki Nomura expressed confidence in continued double-digit growth in the Indian market, buoyed by factors like rapid GDP growth, urbanization, and a burgeoning middle class. Canon’s new product launches, such as the EOS R1 and EOS R5 Mark II, are set to enhance their market footprint.

(With inputs from agencies.)