Bhagwati Products gets ECMS approval for ₹1,015 crore display and precision moulding projects
Mumbai: Bhagwati Products Limited has received approval from the Ministry of Electronics and Information Technology (MeitY) under the Government of India’s Electronics Component Manufacturing Scheme (ECMS) for projects in display manufacturing and precision moulding, involving a combined investment of ₹1,015 crore.
The company said the two projects will be undertaken at facilities in Bawal, Haryana, and Greater Noida, Uttar Pradesh, with production expected to begin this year.
₹450 crore display manufacturing project
The display manufacturing project involves an investment of ₹450 crore and will be implemented through TXD India Technology Private Limited. Bhagwati Products recently acquired a 51% stake in TXD India, for which the company has received Press Note 3 approval.
Under the project, mobile phone displays will be manufactured at TXD India’s existing facility in Bawal, Rewari, Haryana.
The initial production capacity is expected to be 1.5 million displays per month. Bhagwati Products plans to increase the capacity to 3-4 million displays per month over the long term and subsequently expand into the automotive display segment.
₹565 crore precision moulding investment
The second project involves an investment of ₹565 crore in precision moulding services. The facility will be established at Bhagwati Products’ Greater Noida facility.
The company said the investment is intended to expand its electronics component manufacturing capabilities and broaden its manufacturing portfolio.
Both projects are expected to commence production during 2026. According to the company, the investments are expected to create additional employment opportunities and take its overall workforce to more than 10,000 employees.
Focus on electronics component manufacturing
Bhagwati Products said the projects are part of its strategy to expand beyond large-scale device manufacturing into electronics components and advanced manufacturing.
The company recently crossed a ₹17,000 crore revenue milestone, according to its statement.
The company said the new facilities are intended to increase domestic manufacturing capabilities in display production and precision moulding, areas where it considers domestic capacity to be limited. It also plans to use global partnerships for technology, processes and manufacturing expertise.
Rahul Sharma, Co-founder of Bhagwati Products Limited, said the ₹1,015 crore investment is aimed at building capabilities in key electronics component segments and increasing domestic value addition.
The company said the projects are aligned with India’s broader push to expand electronics manufacturing and strengthen capabilities across the component value chain.
