Aim to increase India’s share in electronics GVCs to 10%: Rajeev Chandrasekhar
Rajeev Chandrasekhar added, “Over the last 5 years, the Prime Minister has been focusing extensively on bolstering our domestic capabilities in the electronics sector."
- May 17, 2022,
- Updated May 17, 2022 10:14 PM IST
While inaugurating a manufacturing facility for hearables, wearables and IoT devices at Noida on Tuesday, Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar said the government aims to increase India’s share in electronics GVCs to 10 per cent.
Rajeev Chandrasekhar added, “Over the last 5 years, the Prime Minister has been focusing extensively on bolstering our domestic capabilities in the electronics sector. He recognised this as an incredible growth opportunity for Indian manufacturers prior to the pandemic and over the last two years, that opportunity has grown multi-fold. India has the potential to contribute around US $ 400 billion worth of electronics goods including exports worth US$120 billion, which would account for 9-10% of the overall global value chains, from the current supply potential of 1-2%.”
Rahul Sharma, Co-Founder of Bengaluru based Zetwerk said “This is a unique scalable model that has the potential to effectively disrupt the monopoly of Chinese manufacturers by addressing the export requirements of industries across the world.”
The facility inaugurated by the minister is Zet Town India Pvt Ltd, from Zetwerk company, which has been spread over area of 50,000 sq.ft, and the factory comprises 16 manufacturing lines with advanced testers and a innovation lab for product development. Zet Town India Pvt Ltd is an ODM in India's Hearables and Wearables space with single-point comprehensive product life cycle support, focusing on design and manufacturing services in the larger IoT domain. It has dedicated teams for Research & Development, Design, Sourcing, Assembly & Testing
“Ambitions have been reset and we need more companies like Zetwerk in making this vision a reality. Their model is unique and can be easily scalable. I congratulate Zetwerk for this. They can play a significant role in achieving our objectives of making India a significant player in electronics GVC,” adds minister Chandrashekhar.
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While inaugurating a manufacturing facility for hearables, wearables and IoT devices at Noida on Tuesday, Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar said the government aims to increase India’s share in electronics GVCs to 10 per cent.
Rajeev Chandrasekhar added, “Over the last 5 years, the Prime Minister has been focusing extensively on bolstering our domestic capabilities in the electronics sector. He recognised this as an incredible growth opportunity for Indian manufacturers prior to the pandemic and over the last two years, that opportunity has grown multi-fold. India has the potential to contribute around US $ 400 billion worth of electronics goods including exports worth US$120 billion, which would account for 9-10% of the overall global value chains, from the current supply potential of 1-2%.”
Rahul Sharma, Co-Founder of Bengaluru based Zetwerk said “This is a unique scalable model that has the potential to effectively disrupt the monopoly of Chinese manufacturers by addressing the export requirements of industries across the world.”
The facility inaugurated by the minister is Zet Town India Pvt Ltd, from Zetwerk company, which has been spread over area of 50,000 sq.ft, and the factory comprises 16 manufacturing lines with advanced testers and a innovation lab for product development. Zet Town India Pvt Ltd is an ODM in India's Hearables and Wearables space with single-point comprehensive product life cycle support, focusing on design and manufacturing services in the larger IoT domain. It has dedicated teams for Research & Development, Design, Sourcing, Assembly & Testing
“Ambitions have been reset and we need more companies like Zetwerk in making this vision a reality. Their model is unique and can be easily scalable. I congratulate Zetwerk for this. They can play a significant role in achieving our objectives of making India a significant player in electronics GVC,” adds minister Chandrashekhar.
Also Read: Govt weighs selling part of BPCL instead of full stake amid low demand: Report
Also Read: US FDA to approve Pfizer's COVID booster shot for 5-11 age group: Report