Zetwerk rides China+1 wave, eyes 80% revenue from global majors

The ₹14,000 crore business-to-business custom manufacturing startup Zetwerk has successfully leveraged the China+1 opportunity—with as much as 60 per cent of its revenues coming from global multinational corporations (MNCs) that have shifted part of their China capacity to India.

- SURAJEET DAS GUPTA

They expect that share to go up to 80 per cent in the next three years.

The Bengaluru-based company estimates that around 5 per cent of the global capacity from China has shifted to India in the last three years.

Speaking to Business Standard, Amit Acharya, co-founder and chief executive officer, says: "When we started out six years ago, we never planned for it. But the China+1 move is very strong. Our orders from Global 500 companies are over 10x the size of that of Indian companies—so their spends are higher. Currently, 60 per cent of our revenue comes from these Global 500 companies that have shifted some capacity—in areas like machines, electronics, and renewable energy, where we operate. We expect this number to go up to 80 per cent in three years."