May 20, 2024 /SemiMedia/ -- According to reports, Renesas Electronics plans to increase sales in India from less than 5% of total sales in 2022 to 10% to 15% by 2030 to meet the needs of the fast-growing economy's industrial equipment and technology fields.

Renesas Electronics CEO Hidetoshi Shibata said the company also plans to increase the number of employees in India to 1,000 by 2025 (compared to about 50 in 2019) to cope with the shortage of software engineers in Japan.

“We hope to accelerate growth by partnering with outstanding educational institutions such as Indian Institutes of Technology and their students,” said Hidetoshi Shibata.

According to earlier reports, Renesas Electronics has established a partnership with India's Tata Group in chip design and development in 2022 and opened a joint development center in India.