BW Businessworld sat down for a quick interaction with Canon India's President and CEO, Toshiaki Nomura, in the serene hills of Rishikesh, on the sidelines of the company's grandest launch in the country in a while, i.e., the Canon EOS R6V, its latest in the mirrorless camera range.
The discussion touches upon Canon's market position in India, its manufacturing plans, and contributions to society. Nomura highlights India as a significant market due to its large, young population and booming infrastructure. He also details Canon's initiatives in skill development, such as opening skill development centres and offering masterclass training for content creation, while clarifying that there are no immediate manufacturing plans to announce. The discussion also touches upon Canon's competitive edge in the imaging division, emphasising customer-centric product development.
One of the highlights of the interview was when Nomura was asked about Canon's 'moat' or competitive advantage in the imaging division compared to competitors like Sony, Fujifilm, and Nikon. He emphasises Canon's customer-centric approach. He states that Canon ‘always stays relevant to the market by actively listening to customer needs and wants’, reflecting these insights into their product development.
Here are the excerpts from the interview.
Q: In the briefing today, it was mentioned multiple times that India is the biggest market for Canon. Is that an official statement? Is India the biggest market for Canon globally?
Toshiaki Nomura: It is one of the biggest markets, and certainly the most focused market for Canon, for several reasons. India has the largest population in the world, at 1.4 billion people, and the average age of that population is very young. We do not want to miss the bus, so to speak. That is precisely why we are so focused on India.
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Q: I want to ask about manufacturing. Canon has both the imaging and the printing divisions, of course. But there is also the lithography side of the business. So this is a two-part question: what is Canon doing in India over the next five years, or even the next decade, when it comes to imaging, and separately, when it comes to semiconductors?
TN: That is an interesting topic, and I am happy to share what I can. Make in India is a very strong initiative, and it is one we welcome. Bringing manufacturing technologies into the country and generating employment here is something that aligns well with Canon's own thinking about contributing to Indian society. The government's skill development push is also a very strong initiative that we are actively part of.
We recently opened skill development centres in Delhi and Mumbai, where we invite underprivileged youth between the ages of 18 and 25 to build basic proficiency that will help them find employment. This covers foundational IT skills, English, and communication, so that they become employable. We also run apprenticeship programmes focused on printing device services, after which participants can move into employment directly.
On the imaging side, our focus is on content creation. We run multiple activities to help people build their skills, including a masterclass programme we call Deep Dive. We bring in our brand ambassadors and renowned photographers to teach participants everything from the shoot itself through to post-editing.
Q: So, there is nothing specific on manufacturing that is on the table at the moment?
TN: We will let you know as and when there is something to share.
Q: Fair enough. This one is strictly about the imaging division: what would you say is Canon's moat right now? What separates Canon cameras from everything else in the market?
TN: Our approach has always been to stay relevant to the market and to listen carefully to what the customer wants. That is the foundation. Our motto is that the customer is always at the centre of our thinking. We listen to the applications and use cases that customers care about, and we reflect those in our products. And of course, as technology evolves, more becomes possible. When a customer's creativity meets Canon's technology, that is when the right product emerges.
Q: Is there a specific market share figure that Canon India is targeting in this fiscal year, or the one ahead?
TN: Of course, we are trying to capture as much market share as possible. We are not satisfied with where we currently stand. With excellent products like the EOS R6 Mark II leading our lineup, I am confident we can gain further ground going forward.
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