Zetwerk, a leading unicorn in the electronics manufacturing sector, has unveiled plans for a significant investment of Rs 1,000 crore to fortify its presence in the industry. The investment is earmarked to drive the expansion of its electronic manufacturing capacity across a diverse range of products, including IT hardware, television, mobile phones, hearables, and wearables.
The company aims to consolidate its position as a premier original design manufacturer and electronics manufacturing services provider, with a particular focus on mobile phones, hearables, and wearables. In a statement, Zetwerk revealed, “The company is now producing one device a second from its factories. It has earmarked Rs 1,000 crore investments to grow its Electronics business.”
The ambitious plan involves scaling up capacity from 16 assembly lines at its Noida facility in Uttar Pradesh to an impressive 60 assembly lines spread across six manufacturing facilities. This expansion will incorporate surface-mount technology lines and PCB assembly to meet the burgeoning demand in the market.
With a valuation of $2.8 billion (approximately Rs 23,300 crore), Zetwerk reported operating revenue of around Rs 11,450 crore in the financial year 2023. The company is strategically enhancing its capabilities, particularly in the computer devices segment at its Bangalore facility. This facility will specialize in manufacturing motherboards, desktop PC power supplies, and other electronic components for major multinational corporations and original equipment manufacturers.
Speaking about the transformative potential of India’s electronics manufacturing sector, Zetwerk Electronics President Josh Foulger remarked, “Zetwerk views India’s electronics manufacturing sector as experiencing a transformative shift, akin to a Y2K moment, that will propel the nation towards a flourishing Viksit Bharat (developed India). Through this significant capacity expansion, we aim to act as the ‘teen powerhouse’ of Viksit Bharat.”
In addition to its existing endeavors, Zetwerk has ventured into the television and display devices business by establishing one of North India’s largest TV manufacturing facilities. This facility boasts a production capacity of 24 lakh units annually, catering to both domestic and international brands.
Opportunities for Startups
Amidst Zetwerk’s substantial investment and expansion plans, there are ample opportunities for startups to thrive in India’s burgeoning electronics manufacturing landscape. As the demand for electronic devices continues to soar, startups specializing in niche areas such as component manufacturing, IoT devices, and semiconductor fabrication can leverage Zetwerk’s growth trajectory to establish themselves as key players in the market. Additionally, partnerships and collaborations with Zetwerk could provide startups with access to resources, technology, and market networks essential for scaling their operations and driving innovation in the sector.
