By proficient parasitivam
Chennai (Reuters)-India’s Zetwark is considering a stock market listing within 24 months, at a time when the contract manufacturer is ramping in electronics production, its CEO and co-founder said on Saturday.
“Global companies are producing in India. This is happening today; This will happen once in our life, ”Amrit Acharya, the CEO and co-founder of Zetwork, told reporters.
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Electronics Manufacturing has gained momentum as global technology giants in India over the years, with alphabet’s variety in its supply chain away from China, including Google and Apple.
“India is going to make a long -term bet for any global supply chain,” Josh Foulgar, president of the Electronics of Zetwork.
Acharya said that the valuation of $ 3.1 billion last year has increased by about $ 90 million, its place to invest in electronics business, Acharya said, plans to go publicly in the next 15-24 months.
In 2017, the Peer Dixon Technologies of Upstart became public in 2017, a year before Acharya’s co-founder Zetwark.
On Saturday, Zetwork opened its seventh Indian factory in Chennai, aimed at building an export center for the United States.
The move came at a time when US President Donald Trump hit China with additional tariffs, causing a trade war.
Trump’s policies are expected to promote production in India, but with a possible tariff on India, Acharya said that Zetwork had tracked some customers and tracked its European entry faster for four years.
Electronics are currently responsible for 15% revenue in Zetwark.
In the year ending March 2024, Zetwork sales climbed to 26% to Rs 144.36 billion ($ 1.66 billion), while its net loss increased from Rs 1.09 billion to Rs 9.19 billion.
($ 1 = 86.9410 Indian rupees)
(Reporting by Praveen Parampivam in Chennai. Edit by Mark Potter)
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