Syrma SGS, Kaga Electronics Form ₹250 Million EMS Joint Venture 

The partnership will establish a dedicated manufacturing facility in India to serve Japanese OEMs, with Syrma SGS holding a 60 per cent controlling stake.

Syrma SGS Technology Ltd. has partnered with Kaga Electronics India Pvt. Ltd. to establish a joint venture (JV) focused on electronics manufacturing services (EMS) for Japanese original equipment manufacturers (OEMs) in India. The collaboration aims to strengthen local manufacturing capabilities while expanding access to Japanese customers seeking trusted production partners.

The JV will be launched with an initial investment of ₹250 million, with Syrma SGS contributing ₹150 million for a 60 per cent controlling stake and Kaga Electronics India investing ₹100 million for the remaining 40 per cent. Syrma SGS will lead the venture’s operations, while governance will be shared through a four-member board comprising two directors nominated by each partner.

The new manufacturing facility will be established at Syrma SGS’s existing Haryana plant and will cater specifically to Japanese OEMs. The partnership is expected to help the company tap into growing opportunities created by global supply chain diversification and India’s push to become a preferred electronics manufacturing destination.

The announcement comes amid strong business momentum for Syrma SGS. For the first quarter of FY27, the company reported 67.1 per cent year-on-year growth in consolidated revenue to ₹16.04 billion, while net profit surged 111.8 per cent to ₹1.06 billion.

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To support future expansion, Syrma SGS’s board has also approved plans to raise up to ₹10 billion through a Qualified Institutional Placement (QIP) or other fundraising methods. Additionally, Jaidit Singh Brar recently took charge as the company’s Chief Executive Officer, and India Ratings & Research upgraded Syrma SGS’s long-term credit rating to IND AA/Stable.

The joint venture aligns with India’s expanding electronics system design and manufacturing (ESDM) ecosystem, where global companies are increasingly looking to localise production. By combining Syrma SGS’s manufacturing capabilities with Kaga Electronics’ strong relationships with Japanese customers, the partnership is expected to enhance the company’s position in the fast-growing EMS market and support its long-term growth strategy.

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Nikita Kumari
Nikita Kumari
Nikita Kumari is a Journalist at EFY. She decodes deals, investments, and policy shifts, redefining the semiconductor and tech landscape.

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