This strategic move positions Zetwerk at the forefront of India’s energy and electrification revolution, combining cutting-edge digital manufacturing with decades of engineering excellence to serve a fast-growing, innovation-hungry global market.

The acquisition creates one of India’s most formidable players in electricals and renewables manufacturing, blending Zetwerk’s digital-first supply chain platform and global manufacturing network with KRYFS’s deep domain expertise, NABL-accredited labs, POWERGRID-approved facilities (up to 765 kV), and 10 fully operational plants across the country. KRYFS is the only company in India to manufacture 765 KV class transformer laminations and transformer tanks.

“Zetwerk’s mission has always been to build the most reliable and digitally-enabled manufacturing platform for the world. With KRYFS, we are deepening that promise in the Energy Transition space. KRYFS has been an enduring symbol of trust in power component manufacturing. Their domain leadership in transformer components and unwavering commitment to quality make them a natural fit for us. This partnership isn’t just about scale, it’s about shaping the next generation of infrastructure manufacturing solutions in India, for India and for the world,” said Amrit Acharya, CEO and Co-founder, Zetwerk.

“This is not just about one company acquiring another,” added Acharya. “This is about building an industrial backbone for India’s next decade—electrified, digitized, and self-reliant.”

For KRYFS’ valued customers—including transmission utilities, transformer OEMs, and turnkey players—the integration with Zetwerk unlocks a host of tangible benefits:

●        Digitally enhanced quality with end-to-end traceability via Zetwerk OS—from slit coil to final assembly

●        Expanded offerings including CNC machined parts, solar PV modules, PCB assemblies, and substation fabrication

●        Global sourcing resilience through Zetwerk’s footprint in India, North America, South America, Europe, and Southeast Asia

●        IoT-enabled innovation, including smart transformer health monitoring and data-driven maintenance solutions

“Our customers are at the heart of this journey,” said Saif Qureishi, CEO & Managing Director of KRYFS. “With Zetwerk, we’re not only safeguarding our legacy of quality and trust—we’re elevating it. We’re offering smarter solutions, greater capacity, and the confidence of supply continuity backed by global systems and capital strength. This partnership brings together the strengths of a 33-year-old industry leader and a dynamic 7-year-old new-age company—bridging the old economy with the new. It’s a powerful fusion we call the NOW (new+old world) Economy—where legacy expertise meets modern innovation to unlock greater value.”

KRYFS’ existing management team, including its CEO, will continue to lead the company, ensuring continuity and stability through this new chapter. KRYFS’ 1,600+ employees, spread across its 10 plants, will now be part of Zetwerk’s digitally enabled, high-performance ecosystem. From predictive maintenance to real-time production dashboards, CNC training to global project exposure, the acquisition will open new learning and growth pathways for every team member.

“At Zetwerk, we’ve always believed that India can be the global factory for critical infrastructure and energy solutions. This partnership with KRYFS reinforces that belief. KRYFS brings a legacy of engineering depth and trust that perfectly complements Zetwerk’s speed, scale, and digital execution. Together, we’re not just expanding capacity, we’re building a future-ready, vertically integrated platform to power India’s growth and export India’s excellence to the world,” said Srinath Ramakkrushnan, COO and Co-founder of Zetwerk.

Toyota Tsusho Corporation (TTC), a sister company of Toyota Motor Corporation and a long-standing strategic investor in KRYFS since October 2013, will continue its partnership with the company.

India is projected to invest $330 billion in power and energy infrastructure by 2030, driven by renewable energy adoption, grid expansion, EV acceleration, and urbanization. The domestic transformer market alone is expected to double to $4.2 billion by the end of the decade. With KRYFS, Zetwerk is now uniquely positioned to lead in:

●        CRGO steel lamination and core manufacturing

●        Turnkey for HV substations and transmission lines

●        Transformer tank and fabrication solutions

●        Renewables and solar infrastructure

●        Smart grid component manufacturing and export

• ZETWERK and SMILE announce strategic partnership for manufacturing of IT hardware products; with the launch of Devanahalli facility
• Partnership to Create Pan-India Footprint for ZETWERK’s electronics business
• ZETWERK has committed to invest ₹1,000 Crore to Build ESDM Capabilities in India

Bengaluru, India – 5 August, 2024 – ZETWERK Manufacturing Businesses, the world’s largest contract manufacturing marketplace, announced today that it has entered into a strategic partnership with city-based SMILE Electronics, a rapidly growing Electronics Manufacturing Services (EMS) company, to launch three state-of-the-art factory for IT hardware production in India.

Located near Bengaluru, the Devanahalli factory boasts of fully automated production lines equipped for assembling, testing, and packing of Desktops, Laptops, Energy meters and Remote Controls. Cutting-edge technology like automated screen-printing, placement and reflow machines ensure efficient production, with the ability to produce 0.75 million components per hour. The facility prioritizes environmental responsibility through RoHS compliance and offers conformal coating for enhanced product protection.

The new facility was inaugurated by Harish Kohli, Managing Director of Acer India.

 “Having worked with SMILE for some time, I am confident in their ability to deliver high-quality global IT hardware products from India. I am excited about this strategic

partnership between SMILE and ZETWERK, which promises to help them scale up and meet the rising demand in the IT hardware sector. This collaboration is further strengthened by Acer India’s commitment to the ‘Make in India’ initiative, emphasizing the importance of local manufacturing and innovation. Together, these efforts will not only enhance product quality but also contribute significantly to India’s economic growth and technological advancement,” Mr Kohli said.

SMILE is poised for rapid growth, with this new facility being the first step. Partnering with ZETWERK unlocks two additional factories in Chennai and Andhra Pradesh for SMILE, creating a strong South Indian presence. This expansion brings SMILE’s total footprint to four factories with ZETWERK, including their existing facility in Bengaluru. ZETWERK has its own four factories in North India to cater to demand for mobile phones, telecom devices, smart meters, television & display devices, and hearable & wearables.

“SMILE is committed to being the strategic partner of choice for major ODMs and OEMs,” said

Mukesh Gupta, Chairman of SMILE Electronics.

 “We provide a seamless experience, transforming concepts into reality with our one-stop solutions. Our 750 skilled employees across diverse industries manage a well-rounded portfolio, catering to both low-mix, high-volume and high-mix, low-volume production needs. We’re thrilled to partner with ZETWERK, a leader in the global value chain. This collaboration offers perfect synergy: SMILE scales to become a top Indian ESDM player, while ZETWERK gains expertise in the flourishing IT hardware industry,” Mr Gupta added.

“We are thrilled to embark on this strategic partnership with Smile, a move that aligns perfectly with the Government of India’s vision for a robust and self-reliant electronics industry. By combining our strengths, we aim to accelerate the growth of the domestic electronics ecosystem, create significant employment opportunities, and contribute meaningfully to India’s journey towards becoming a global manufacturing powerhouse. This partnership is a testament to the conducive business environment fostered by the government’s progressive policies and initiatives,” said Rahul Sharma, Co-founder, Zetwerk.

“This partnership with ZETWERK unlocks significant advantages for both parties,” said Josh Foulger, President of ZETWERK Electronics.

 “By strategically optimizing design, manufacturing, distribution, and even reverse logistics, we can achieve Tier 1 pricing. ZETWERK’s strong North American presence will contribute to a well-integrated global supply chain. Additionally, SMILE will be strengthened in key sectors like Aerospace & Defense, Automotive, and Consumer Electronics – areas where ZETWERK already has a well-established market position,” Mr Foulger added.

SMILE is a dedicated supporter of domestic manufacturing and is a recipient of the Indian government’s IT hardware Production Linked Incentive (PLI) schemes 1.0 and 2.0. This initiative signifies SMILE’s commitment to propelling India’s growth in IT hardware production. In the past three years, SMILE has successfully manufactured and supplied millions of desktop PC components and electronic devices sold on leading platforms.