Cyient Spin-off Eyes Global ASIC Market

By Yashasvini Razdan, EETimes (April 28, 2025)

India is witnessing a new wave in the electronics industry. With the announcement of OSAT facilities in Gujarat, Tamil Nadu and Assam, the country is waving a green flag for semiconductor development. This momentum has prompted several startups to explore a segment that had, for a time, been overshadowed by the noise surrounding AI, high-performance RAM and processing power: the fabless power semiconductor market.

The first wave of startups included iVP Semiconductor, founded by Raja Manickam of Tessolve, and Sagar Semiconductors, led by Kedar Reddy. Both are focused on the discrete power semiconductor space. However, the margins in the discrete power space, as seen with companies like Alpha and Omega Semiconductor, remain a concern—something long-time industry insiders will recall from the Fairchild days.

In an exclusive conversation with EE Times, Narayan revealed the rationale behind setting up a standalone semiconductor subsidiary. “Semiconductors [are] going to be a $2 trillion market soon, by 2032,” he said. “Silicon dances at a different rhythm. If you want to build a resilient business model, you have to build it very differently from a services company mindset.”

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