Syrma SGS Technology Limited (“Syrma SGS”), a leading Indian electronics design and manufacturing company, has entered into a Joint Venture Agreement with Elemaster SpA Tecnologie Elettroniche (“Elemaster”), a global leader in electronics design and manufacturing headquartered in Italy. The new entity, to be renamed Syrma SGS Elemaster Private Limited, will focus on delivering advanced, high-reliability electronics solutions for railway, industrial, and medical applications.
The joint venture’s first facility will be located in Bommasandra Industrial Area, Bengaluru, with an initial area of approximately 20,000 sq. ft. The plant will house SMT, THT, and box-build assembly lines designed to meet the rigorous standards of global customers. By integrating Syrma’s cost-efficient execution capabilities with Elemaster’s engineering expertise and deep relationships with European OEMs, the venture aims to strengthen India’s role in the global high-reliability electronics value chain.
This collaboration is expected to unlock growth opportunities in critical end-markets while aligning with India’s “Make in India” initiative. The dedicated structure of the JV will ensure sharper focus on high-reliability segments, enable scalable operations, and expand share-of-wallet with international accounts.
Sandeep Tandon, Chairman, Syrma SGS Technology, said “This partnership is a milestone in our journey to build a global high-reliability platform out of India. Combining our execution strengths with Elemaster’s design depth and OEM relationships creates a unique opportunity in rail, industrial, and medical electronics.”
Satendra Singh, CEO, Syrma SGS Technology Limited, added “The JV is built on complementary strengths and ensures joint governance, efficient cost structures, and a clear expansion plan. It positions us well to capture value-accretive growth across multiple high-reliability sectors.”
Valentina Cogliati, CEO, Elemaster Group, stated “India is a priority market for our global customers. This venture with Syrma SGS provides us with a reliable, scalable base in the region. Together, we will extend high-quality, Made-in-India solutions to our international partners.”
Giovanni Cogliati, CCO, Elemaster Group, commented “This step reflects the strong relationship built between Elemaster and Syrma over recent years. The investments in facilities, equipment, and organization will allow us to deliver world-class service while meeting the growing demand for local manufacturing in India.”
With this joint venture, Syrma SGS and Elemaster reinforce their commitment to innovation, reliability, and global customer partnerships, establishing India as a strategic hub for advanced electronics manufacturing. Syrma SGS is an established leader in Electronic Systems Design and Manufacturing in India, with over 30 years of expertise in delivering innovative and efficient EMS solutions. Serving over 300 clients across 20+ countries, the company operates manufacturing facilities across India and R&D centers in Chennai, Pune, Bangalore, and Stuttgart, Germany.
With a consolidated revenue of approximately INR 3,836 Crores for FY24-25, Syrma SGS is committed to providing high-quality products and services, including product design, assembly, prototyping, and tester development, while also offering OEM solutions for RFID tags, magnetic components, and electro-mechanics. The company’s extensive experience and global reach make it a key player in the growth of the electronics industry.
