Netweb Technologies launches new manufacturing facility in Faridabad; stock ends weak

Netweb Technologies India Limited inaugurated its flagship computing server, storage, and switch manufacturing facility in Faridabad. The new facility commenced its commercial production and is expected to create local job opportunities to stimulate economic growth in the region. 

 It includes manufacturing capabilities such as PCB design and SMT lines for high-end servers, storage, and switches. The facility will enable Netweb to manufacture ‘Make in India’ high-end computing systems based on the latest chips from technology partners Intel, NVIDIA, and AMD, catering to new industry verticals. 

Sanjay Lodha, CMD of Netweb Technologies, said, “This facility stands as a testament to the potential of Indian technology and our unwavering dedication to the ‘Make in India’ initiative.’ This paves the way for design, development, and manufacturing of even more advanced products within India, thereby bolstering the country’s standing in the global technology market. The new facility will significantly enhance India’s capability to deliver comprehensive data centre computing solutions, covering everything from design to final product.” 

The shares were down by 1.15% to ₹1,961 at close on the BSE.