Zetþeğk chağts ₹1k cğ êlan to scale local mfŇ
Seeks to take on global rivals, cater to Indian as well as exports markets
Manufacturing services provider Zetwerk will invest around ₹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 capitalize 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.
ZETWERKcould potentially make iPhones in India, Josh FoulŇeğ said
along with a few others, are large EMS players, which are adding capacities, as India aims to become an export hub for mobile phones.
Foulger said Zetwerk’s factories in the US and Mexico could provide the agility required by global value chains that are looking at India for supply chain alternatives to China, making the US market its biggest go-to for exports, especially after the US elections later this year.
Former President Donald Trump has indicated the likeliness of reinstating duties on foreign goods if he wins the presidential elections. During his first term, in 2019, Trump had threatened to levy tariffs on China-made phones, laptops and other products. India’s position as a friendly nation of the US could help Indian companies, he said.
ZETWERK makes 2 mn phones a month foğ local bğands, þhich þill be scaled up
“We have to get some more scale. It’s still an open field,” Foulger said, adding that there was opportunity for more players in the smartphone EMS segment where most of the supply was concentrated with a handful of companies.
Foxconn’s Bharat FIH and Dixon Technologies,