New Delhi, May 17 (PTI) Manufacturing startup Zetwerk's subsidiary Zet Town has set up a new plant in Noida with a production capacity of 10 million devices, the Electronics and IT Ministry said on Tuesday.

The plant, which will produce hearables, wearables, and IoT devices, was inaugurated by the Minister of State for Electronics and Information Technology Rajeev Chandrasekhar.

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Spread out over an area of 50,000 sq.ft, the factory comprises 16 manufacturing lines with advanced testers and a world-class innovation lab for product development.

With the objective of strengthening India's manufacturing capabilities in the smart technology space, the factory has been established to create ODMs (Original Design Manufacturer) in hearables, wearables and IOT devices.

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"India has the potential to contribute around USD 400 billion worth of electronics goods including exports worth USD 120 billion, which would account for 9-10 per cent of the overall global value chains, from the current supply potential of 1-2 per cent.

"Ambitions have been reset and we need more companies like Zetwerk in making this vision a reality. Their model is unique and can be easily scalable," Chandrasekhar said.

Zet Town has dedicated teams for research and development, design, sourcing, assembly and testing and a manufacturing facility in Noida with 16 manufacturing lines with advanced testers and a world-class innovation lab for product development, the statement said.

"Through our manufacturing capabilities at this new facility, we bring a design based product proposition to the Indian market in the wearables and hearables space.

"This is a unique scalable model that has the potential to effectively disrupt the monopoly of Chinese manufacturers by addressing the export requirements of industries across the world," Zetwerk co-founder Rahul Sharma said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)