Bhagwati Products, the electronics manufacturing and contract assembly arm of Micromax Informatics, plans to invest Rs 1,015 crore in display manufacturing and precision moulding as part of its expansion under the Electronics Component Manufacturing Scheme (ECMS).
The company said its two projects have received approval from the Ministry of Electronics and Information Technology (MeitY) under the government’s ECMS initiative.
Rs 450 Crore Display Manufacturing Project
Bhagwati Products will invest Rs 450 crore in display manufacturing through TXD India Technology Private Limited.
The project follows Bhagwati Products’ recent acquisition of a 51% stake in TXD India, for which the company has already received Press Note 3 approval.
Under the plan, mobile phone displays will be manufactured at TXD India’s existing facility in Bawal, Rewari, Haryana.
The facility will initially have the capacity to produce 1.5 million displays every month. Bhagwati Products plans to gradually increase production to 3 million to 4 million displays per month in the long term.
The company also plans to expand into automotive display manufacturing as the business grows.
Rs 565 Crore For Precision Moulding
The second project involves an investment of Rs 565 crore in precision moulding services.
The facility will be established at Bhagwati Products’ Greater Noida manufacturing unit and will support the growing requirements of India’s electronics manufacturing sector.
The company said both projects are expected to begin production this year.
Focus On Domestic Electronics Manufacturing
Bhagwati Products Co-founder Rahul Sharma said the company’s investment reflects India’s shift from simply assembling finished electronics to developing domestic capabilities for critical components.
Display manufacturing and precision moulding are considered important parts of the electronics supply chain, and the company expects its projects to strengthen local manufacturing capabilities.
Over 10,000 Jobs Expected
The two projects are expected to create additional employment opportunities across Bhagwati Products’ manufacturing facilities.
According to the company, the expansion could take its total workforce strength to more than 10,000 employees.
Bhagwati Products is the electronics manufacturing and contract assembly arm of Micromax Informatics, which owns the Micromax smartphone brand.
