Zetwerk Electronics, part of the $2 billion Zetwerk Manufacturing Companies, on Saturday inaugurated its largest electronics manufacturing facility near Chennai. The 15-acre campus at Pannur, 55 km from the town in Tiruvallur district, will play a pivotal function in strengthening India’s place within the world Electronics System Design and Manufacturing (ESDM) sector, contributing to India’s ambition of a $500 billion ESDM market and Tamil Nadu’s imaginative and prescient of changing into a $1 trillion financial system, mentioned Amrit Acharya, CEO & Co-founder of Zetwerk.
Established in 2021, the contract manufacturing firm delivers end-to-end Electronics Manufacturing Providers (EMS) from idea to manufacturing. The brand new facility was a part of a ₹1,000 crore funding that was introduced earlier. It can produce digital elements for numerous sectors, together with client durables and IT {hardware} for home markets, and later for worldwide markets.
Video Credit score: Businessline
The brand new manufacturing facility will give attention to manufacturing management boards for laundry machines, fridges, air conditioners, and IT {hardware}, with superior manufacturing capabilities together with 5 Floor-Mount Expertise (SMT) strains, Handbook Insertion (MI) strains, potting, conformal coating, and rigorous testing processes. At full capability, the facility will make use of roughly 1,200 expert professionals.
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Ashwini Vaishnaw, Union Minister for Electronics & Info Expertise, Railways, and Info & Broadcasting, inaugurated the facility. In his speech he mentioned, “As Zetwerk launches its seventh manufacturing facility, we reaffirm our dedication to supporting Indian firms in changing into world leaders.” Two main Electronics Manufacturing Clusters with an authorized price of ₹1,112 crore will likely be developed at Pillaipakkam and Manallur. This may assist the expansion of digital manufacturing in Tamil Nadu in a giant means, he mentioned.
“When Prime Minister Narendra Modi took up the duty of the nation, electronics manufacturing was a really small trade. Nevertheless, at the moment electronics has turn out to be the second largest export merchandise within the nation overtaking many typical industries over many years.. I need to thank Tamil Nadu authorities for taking ahead PM’s imaginative and prescient,” he mentioned.
India’s manufacturing revolution
Tamil Nadu’s Industries Minister TRB Rajaa mentioned as India’s high electronics producer with 36 per cent share in nationwide exports, Tamil Nadu has at all times been on the forefront of India’s manufacturing revolution. Investments from new age firms like Zetwerk strengthen the ecosystem and can allow the State’s bold goal to scale up our yearly electronics exports to ₹100 billion.
Acharya mentioned the brand new facility was the largest for the corporate, and designed to be an export hub, leveraging Indo-US commerce alternatives and contributing to India’s function in world provide chains.
Later speaking to newspersons, Acharya mentioned the corporate is seeking to go public in 15-24 months. Preparatory works are happening in that path. As a six-year-old firm, there isn’t a time stress to do the IPO as a result of when firms get to let’s say 10 or 12 years, there’s a time stress as a lot of the funds who make investments have a 7-to-10-years form of funding horizon, he mentioned.
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