As stated by Rahul Sharma, cofounder of manufacturing services firm Zetwerk, the company is foraying into the IT hardware business with the production of laptops and is also gearing up to make components for electric vehicle (EV) makers.

According to Sharma, Zetwerk, which became a unicorn in 2021, plans to invest more than Rs 1,000 crore in its consumer electronics business over the next three years, and will expand its footprint beyond north India with three new facilities in the country's south.

"We're entering IT and hardware," he told ET. "That could be through existing PLI parties." We will form some kind of partnership with them so that we can enter the market and compete with the biggest players.

Zetwerk already manufactures wearables and hearables. It recently started with televisions and is now moving on to laptops in the IT hardware space. The company acts as a contract manufacturer for other brands and doesn't have plans to sell through its own name.

"We are also launching our foray into electric vehicles," Sharma said. "We will not be producing EVs, but will instead concentrate on the component side, particularly in the electronics space." This would entail working on the battery management system (BMS), motor controller, vehicle control unit (VCU), and battery packs."

Sharma stated that Zetwerk is in talks with customers to begin manufacturing components for them, as well as looking to establish a plant in the country's west.