Canon to Capitalize on India's Value for Money Aspiration

Canon is confident to hit the double digit growth in this year and onwards. Furthermore, in the next five to ten years, we will continue our double digit growth year by year, says president & CEO Toshiaki Nomura

- BY SHRABONA GHOSH

WE ARE OPTIMISTIC ABOUT GROWING OUR BUSINESS IN INDIA, GIVEN THE COUNTRY'S EVOLVING ECONOMIC STRENGTH. THE FIRST FEW MONTHS OF THE YEAR WERE A GOOD START FOR US AND WE ARE CONFIDENT TO HIT THE DOUBLE DIGIT GROWTH IN THIS YEAR AND ONWARDS. FURTHERMORE, IN THE NEXT FIVE TO TEN YEARS, WE WILL CONTINUE OUR DOUBLE DIGIT GROWTH YEAR BY YEAR." Toshiaki Nomura, President & CEO, Canon

With an eye on expanding deeper into the Indian market, under the leadership of president & CEO Toshiaki Nomura, Canon Group intends to maximize on India's value for money aspiration. Globally, the group holds India as one of its fastest-growing markets, “Growth in India is exponential and we call it infinite India. The growing middle class, increasing aspirations of Tier I, and II cities, and the YOLO (you only live once) factor post-COVID-19, are driving our sales in the country,” Nomura, CEO, Canon India told Entrepreneur India.

Both B2B and B2C segments have been contributing equally to Canon India's growth and revenue. The consumer printer segment marked double-digit year-on-year (YoY) growth. The business imaging solutions segment witnessed double-digit growth in 2024, specifically in colour MFEDs and scanner segments. The top contributing verticals were BFSI, IT, manufacturing, aviation, pharma, government & SMB.