Bhagwati Products, linked to Micromax, secures approval to invest over ₹1,000 crore in display production and precision moulding, signalling a significant shift towards self-reliance in India’s electronics sector amid rapid expansion.
Bhagwati Products, the electronics manufacturing arm linked to Micromax Informatics, said it will invest Rs 1,015 crore in display manufacturing and precision moulding after receiving approval from India’s Ministry of Electronics and IT under the Electronics Component Manufacturing Scheme.
The larger of the two projects, worth Rs 450 crore, will run through TXD India Technology Private Limited after Bhagwati Products bought a 51% stake in the company. The display line will operate at TXD India’s existing plant in Bawal, Rewari, in Haryana, beginning with capacity for 1.5 million mobile phone displays a month. The company plans to lift that to 3 million to 4 million units over the longer term before moving into automotive displays.
A separate Rs 565 crore commitment will go into precision moulding at the company’s Greater Noida facility. Rahul Sharma, co-founder of Bhagwati Products, said in a statement that the investment marks a shift for India’s electronics sector beyond final assembly and towards building domestic capability in components that have traditionally been imported.
The projects are expected to start production this year and could lift Bhagwati Products’ workforce to more than 10,000, according to the company. The announcement comes as the group expands quickly: Financial Express reported that Bhagwati Products posted tenfold revenue growth to Rs 6,200 crore in FY2024-25, while other recent reports have said the company is preparing for a domestic initial public offering and broadening into components, design and other electronics-linked businesses.
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