Zetwerk charts ₹1,000 crore game plan for electronics manufacturing

livemint.com:

₹1,000 crore to ramp up its production capabilities for laptops, servers, smartphones, hearables, televisions, and telecom equipment. With a sharp focus on competition, it is aiming to challenge electronics manufacturing services providers in the Indian and exports markets, primarily targeting the US. “We have planned an outlay of ₹1,000 crore for the near future to look at expansions judicially and into critical areas.

A company from India entering this segment is important at a time when globally there’s a Y2K moment for hardware happening, and India will be the first pick with the newer policies coming," Josh Foulger, who joined as president of electronics business at Zetwerk in February, told Mint in an interaction. The former country head and managing director of Bharat FIH, the India arm of Taiwan’s Foxconn Technology Group, said Zetwerk could potentially make iPhones in India and capitalise on the growth in smartphone exports, driven by Apple. As of January, India produced iPhones worth over ₹1 trillion, a majority of which was for the exports markets.

"I’m happy for them (Apple) to be in India, very happy that they're choosing Indian companies. That gives an opportunity for us in the future." He was referring to iPhones being manufactured by Tata Electronics Pvt Ltd, which had acquired iPhone maker Wistron’s India operations last year, marking the first instance of an Indian company assembling iPhones domestically. The Tata group company is currently in talks to acquire the India operations of another iPhone maker, Pegatron, Reuters reported on Monday.