Zetwerk, a managed marketplace for manufacturing, is playing a pivotal role in India's ambition to become a $5 trillion economy. Co-founder and CEO Amrit Acharya emphasized that achieving this goal necessitates a substantial contribution of at least $1 trillion from the manufacturing sector. Zetwerk, which began as a steel fabricator, has diversified its revenue streams, with 40% now coming from renewable energy sectors. This shift reflects the company's adaptability and commitment to sustainable practices in manufacturing.
The company has experienced significant growth, particularly during the Covid-19 pandemic, when inquiries from US customers surged. In 2022 alone, Zetwerk reported a remarkable tenfold increase in revenue, showcasing its successful global expansion strategy. Acharya noted that one-third of the company's revenue is now generated from the United States, highlighting the importance of international markets in its growth trajectory.
Ramakkrushnan, another co-founder, pointed out the favorable conditions currently present for India's manufacturing sector, emphasizing the need for high-value work to enhance competitiveness. He also noted that the current volatility in global markets presents unique opportunities for business growth, particularly for companies like Zetwerk that are well-positioned to capitalize on these changes.
As India seeks to bolster its manufacturing capabilities, initiatives like Zetwerk's could be instrumental in driving the country's economic growth and establishing it as a global manufacturing powerhouse. The company's focus on innovation and sustainability aligns with the broader goals of the Indian government, which is looking to enhance its manufacturing sector as part of its economic strategy. [177821b8]