New Delhi, Aug 21 As India doubles down on local manufacturing, Netweb Technologies which is a leading high-end computing solutions (HCS) provider in India, said on Monday that it is expanding its competence in terms of specialized design and manufacturing.
Sanjay Lodha, Chairman and Managing Director, Netweb Technologies, told IANS that the company is striving to have more India-centric designs which are more efficient, secure, and price competitive.
“We are also adding up on the specialized manufacturing capability to keep up with the variety and quality of the products we provide to our customers in India. I am sure the way we are progressing, it will be no surprise some of these designs and products will be sought-after in the world market too,” Lodha added.
Netweb Technologies made a bumper debut on the exchanges last month, with a robust premium of over 89 per cent.
Lodha told IANS that the company “plans to use proceeds from the fresh issue for funding capital expenditure requirements worth Rs 32.3 crore”.
On the new government licensing rules for imports of servers, laptops, PCs and tablets into India, he said that the intention is to get the MNC to make these products in India and cater to the market and requirements.
“We would say that this is a win-win situation for all. India also has long-term security concerns, with the rise of electronics and its being a basic building block of everything modern security concerns could not be denied,” Lodha told IANS.
According to the company, PLI 2.0 for hardware builds upon the investment-centric approach while introducing more flexibility.
“The particular significance is the augmentation of incentive percentages, which undoubtedly enhances the appeal for businesses to participate. The introduction of a staged manufacturing framework, involving the gradual integration of components over successive years, represents a well-thought-out strategy,” Lodha noted.
This approach demonstrates a forward-looking perspective aimed at fortifying the local manufacturing ecosystem, nurturing self-reliance, and enriching the overall value chain within our nation.
Importantly, he added, PLI 2.0 facilitates a smooth transition for entities previously engaged in PLI 1.0, “presenting us with the opportunity to seamlessly migrate while potentially achieving a 'plus' applicant status”, he added.
Netweb is an indigenous server manufacturer and have an early-moving advantage.
“We are committed to all the long and short goals set by the government. We are a successful PLI participant and actively looking into the new policy from the government on that front,” said the company executive.
He said that developing the ecosystem for electronics manufacturing is the key and for this to happen, we will need to start somewhere.
“It is still a long journey. Semiconductors will take its own time, and further nurturing and creating real incentives for manufacturing and developing the ecosystem will be required,” Lodha said.
--IANS
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