Bhagwati Products (Micromax) Gets ECMS Approval for ₹1,015 Crore Display and Precision Moulding Investment
Bhagwati Products Limited, the electronics manufacturing and contract assembly arm linked to Micromax Informatics, has received approval from the Ministry of Electronics and Information Technology under the government's Electronics Component Manufacturing Scheme for two projects worth a combined ₹1,015 crore. The approvals form part of the latest ECMS tranche, in which the government cleared 31 fresh proposals worth ₹7,877 crore in total.
Of the total investment, ₹450 crore will go toward mobile phone display manufacturing through TXD India Technology Private Limited, in which Bhagwati Products recently acquired a 51 per cent stake after receiving Press Note 3 approval for the transaction. This project will be carried out at TXD India's existing facility in Bawal, Rewari district, Haryana, with an initial capacity of 1.5 million mobile phone displays per month, targeted to scale up to 3-4 million units over the longer term. The company also plans to subsequently enter automotive display manufacturing at the site.
The remaining ₹565 crore will be invested in precision moulding operations at Bhagwati Products' existing facility in Greater Noida, strengthening its capability to produce precision components used in consumer electronics manufacturing.
Both projects are expected to commence production during 2026. Bhagwati Products Co-founder Rahul Sharma said the investment supports India's shift toward domestic component manufacturing rather than device assembly alone, and is expected to add manufacturing employment, taking the company's overall workforce strength to over 10,000 employees.