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Japan chipmaker Renesas targets India for over 10% of sales

TOKYO -- Japanese chipmaker Renesas Electronics seeks to boost sales in India from less than 5% of the 2022 total to between 10% and 15% by 2030, aiming to meet demand in the fast-growing economy's industrial equipment and tech sectors.

The company also plans to increase its staff in India to as many as 1,000 workers by 2025, compared with the roughly 50 people employed there in 2019, CEO Hidetoshi Shibata said Thursday, as it fights a software engineer shortage in Japan.