Momentum picking up in the manufacturing sector: Zetwerk co-founders

Momentum is picking up in the manufacturing sector with investments pouring in and Indian companies expanding capacity and exploring new markets, according to the co-founders of Zetwerk, a B2B startup focused on this segment.

At TechSparks 2025, Zetwerk Co-founder and CEO Amrit Acharya said, “There are lot of examples of our supply partners massively expanding in capacity and accessing newer markets and geographies.”

According to Zetwerk Co-founder & COO Srinath Ramakkrushnan, a lot of manufacturing capacity is being built in electronics, renewables, power components, metal components, and AI data centres.

“The production linked incentive (PLI) schemes, over the last three to four years, have played a very significant role in not just creating assembly level capacities; backward integrated capacities are also getting set up... In the last one year there has also been a resurgence of private capex in the country,” said Ramakkrushnan.

Founded in 2018, Zetwork, a global manufacturing network, connects businesses with suppliers to fulfill their manufacturing needs across various sectors. It is expected to reach an operating revenue of Rs 16,000 crore-17,000 crore this year. Its services are available in over 25 manufacturing segments.

Zetwerk has a supplier base across Asia-Pacific, Western Europe and North America. While India is its major market, 30% of its revenue comes from the United States.

Acharya said that many suppliers on the Zetwork platform are seeing steady revenue and inflow of customers. Most importantly, they are getting access to higher credit from banks, he said.

“With us, they are getting orders throughout the year. So, we are creating predictability for them. They are filing GST every month,” said Acharya.

However, the co-founders of Zetwerk believe they have just tapped a small part of the big manufacturing opportunity. According to them, there are many unexplored segments, and tapping into these opportunities requires a certain level of patience and domain knowledge.

Ramakkrushnan said there are big opportunities in the energy sector, as many legacy companies are not able to meet the surge in demand.

Acharya said Zetwerk has already enabled the creation of 1 one lakh jobs indirectly, and the goal is to reach 1 million. The company is growing at 30-40% annually and expects to continue this momentum in the future too.