Syrma SGS and Shinhyup Forge ₹1,800 Crore Alliance to Build India’s Largest PCB Hub

Syrma SGS Technology Ltd. has entered a strategic joint venture with South Korean electronics firm Shinhyup Electronics to establish India's biggest multi-layer and flexible Printed Circuit Board (PCB) and Copper Clad Laminate (CCL) manufacturing plant. Naidupeta in Andhra Pradesh will be the location of the ₹1,800 crore investment, and it is likely to be commissioned by FY 2026–27.

 

Key developments:

 

- Syrma SGS signed a non-disclosure agreement with Shinhyup Electronics in December 2024, a memorandum of understanding in January 2025, and a non-binding term sheet in April.

 

- High-end PCBs and CCLs will be produced by the company to be applied in automotive electronics, electric mobility, smart metering, and medical devices.

- Syrma SGS has applied under the Production Linked Incentive (PLI) scheme of the Government of India and is negotiating with the government of Andhra Pradesh to take advantage of capital subsidy, electricity duty waiver, and skilling support.

- The project includes a cutting-edge research and development center to drive innovation in electronic component design and engineering.

The plan is to be cleared this week by the Andhra Pradesh cabinet, with the land and water supply already facilitated in the Tirupati district.

Syrma SGS anticipates that its new plant will add ₹6,200 crore to its topline, significantly augmenting its domestic production capacity and market share.

 

This JV is a critical milestone in India's strategy for electronics self-reliance, placing Syrma SGS at the hub of the global supply chain of high-performance PCBs.

 

Sources: Economic Times, Moneycontrol, IBEF, Business Standard, Electronics For You, Global Indian News Network