The Andhra Pradesh government has approved a ₹856 crore incentive package for Syrma SGS, which is setting up India’s largest printed circuit board (PCB) plant in partnership with Korea’s Shinhyup Electronics. With a total investment of ₹1,595 crore, the facility will come up at Naidupeta near Chennai and is expected to be commissioned by October 2026. The project, which will include PCB and copper clad laminate (CCL) manufacturing, is projected to add ₹6,200 crore to Syrma SGS’s topline in FY2027.
The Andhra Pradesh government has approved an incentive package worth Rs 856 crore for India’s largest printed circuit board (PCB) plant, which electronics manufacturing services company Syrma SGS is establishing. The package received clearance from the state cabinet under the leadership of Chief Minister N Chandrababu Naidu on Thursday, officials confirmed.
Syrma SGS will invest Rs 1,595 crore to set up the PCB facility, which is being developed in partnership with Korea’s Shinhyup Electronics. The project is structured on a 51:49 equity shareholding basis between Syrma SGS and Shinhyup Electronics Ltd. For this initiative, the state government has committed to providing 12.56 acres of land at a 75% subsidised cost. The facility will come up at the Naidupeta industrial area, which benefits from its strategic location near Chennai, Tamil Nadu.
The plant is scheduled to be commissioned by October 2026 and is expected to contribute significantly to Syrma SGS’s growth. The company anticipates that the project will add Rs 6,200 crore to its topline in FY2027. The upcoming unit will encompass three major components — the production of single-layer and multi-layer PCBs, HDI/flex PCB manufacturing, and copper clad laminate (CCL) manufacturing, along with electronics manufacturing services.
Syrma SGS has already established a strong footprint in India’s electronics manufacturing ecosystem. With a turnover of Rs 3,836 crore in FY2025, the company holds a market capitalisation of nearly US$ 2 billion. Its operations currently span 14 manufacturing facilities and employ a workforce of about 9,000 people.
PCBs, which serve as the foundation for mounting and interconnecting electronic parts, are critical for a wide range of devices. At the same time, CCL forms the core raw material required to manufacture these PCBs. The products from this facility will cater to several high-growth sectors, including smart metering, healthcare and medical devices, automotive applications, and electric mobility solutions.
The demand outlook for PCBs in India continues to strengthen, particularly in the automotive sector. According to market intelligence firm UnivDatos, the rapid electrification of vehicles and the growing adoption of advanced driver-assistance systems (ADAS) are fuelling the requirement for sophisticated PCBs. Automotive features such as smart dashboards, battery management systems, infotainment technologies, and electric vehicle integration have now become standard. This trend is creating sustained demand for high-quality and durable PCBs that can support the complexity of these innovations.
By anchoring this project, Andhra Pradesh positions itself as a key hub for advanced electronics manufacturing, while Syrma SGS strengthens its role as a leader in India’s growing PCB ecosystem.
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