Asia Tech Wire (May 16) -- Japanese chipmaker Renesas Electronics Corp. said it will ramp up its hiring in India.

At its Capital Market Day event on Thursday, Renesas executives expect India's share of the global semiconductor market to continue to expand, hopefully from a 5% share in 2022 to about 10% in 2027.

Considering such potential, the company will accelerate the expansion of employment in the Indian market from 51 in 2019 to about 1,000 by 2025.

A Renesas executive said during a Q&A session that there is a significant trend of electrification in India, especially the electrification of two-wheelers is becoming more and more prevalent.

The executive said that it is not difficult to recruit R&D staff in India, and it is more important to develop the right business and establish management in the region.