India’s electronics manufacturing ecosystem is entering a new phase, with companies increasingly investing in the domestic production of critical components rather than focusing solely on device assembly.
Bhagwati Products Limited, a Micromax Informatics company, is set to invest ₹1,015 crore across display manufacturing and precision moulding projects, strengthening its capabilities in key areas of the electronics component supply chain.
The projects have been approved under the Electronics Component Manufacturing Scheme (ECMS) of the Ministry of Electronics and Information Technology (MeitY), marking another significant investment in India’s efforts to build a stronger domestic electronics manufacturing ecosystem.
₹450 Crore Investment in Display Manufacturing
A major portion of the investment will be directed towards display manufacturing through TXD India Technology.
The company plans to establish mobile phone display manufacturing capabilities at its facility in Bawal, Haryana, with an initial production capacity of around 1.5 million displays per month.
The facility is planned for further expansion, with the company targeting a production capacity of approximately 3–4 million displays per month. The roadmap also includes expansion into automotive display manufacturing, opening opportunities beyond the smartphone segment.
The investment could strengthen domestic availability of displays, a critical component in smartphones and other electronic devices, while supporting India's broader objective of developing a more integrated electronics manufacturing supply chain.
₹565 Crore for Precision Moulding
The remaining ₹565 crore investment will be allocated towards precision moulding operations at Bhagwati Products' Greater Noida facility.
Precision moulding plays an important role in electronics manufacturing, particularly in the production of accurate and durable components used in consumer electronics and other technology products.
The investment is expected to strengthen Bhagwati Products' manufacturing capabilities and increase the domestic value addition associated with electronics production in India.
Projects Expected to Support Employment
Both projects are expected to commence production during 2026. The expansion is also expected to contribute to employment generation, with Bhagwati Products' overall workforce potentially exceeding 10,000 employees as its manufacturing operations expand.
The scale of the investment indicates a broader push towards developing manufacturing capabilities across multiple stages of the electronics value chain.
India Moves Beyond Electronics Assembly
The investment comes at a time when India is seeking to evolve from a major electronics assembly destination into a more comprehensive manufacturing and component production hub.
While smartphone and electronics assembly has expanded rapidly in recent years, components such as displays, precision-moulded parts and other critical inputs remain important areas for increasing domestic value addition.
Investments such as Bhagwati Products' ₹1,015 crore expansion could help address this gap by creating additional domestic manufacturing capacity and reducing dependence on imported components.
Strengthening the Electronics Component Ecosystem
The ECMS is designed to encourage investments in the manufacturing of key electronic components and build a stronger domestic supply chain.
For India's electronics industry, the development of component manufacturing can create opportunities across the ecosystem, including suppliers, technology companies, contract manufacturers, logistics providers and downstream device manufacturers.
Bhagwati Products' investment across Haryana and Uttar Pradesh also highlights the growing role of established manufacturing clusters in supporting India's next phase of electronics growth.
With display manufacturing, precision moulding and other component capabilities expanding, India's electronics manufacturing story is increasingly moving beyond assembly towards deeper localisation and higher domestic value addition.
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