Micromax Arm Invests ₹1,015 Cr to Boost India’s Electronics Manufacturing

Bhagwati Products Limited, a subsidiary of Micromax Informatics, is set to inject Rs 1,015 crore into expanding India’s electronics manufacturing base. This significant capital commitment targets both display manufacturing and precision moulding services, marking a pivotal moment for domestic production capabilities.

The Ministry of Electronics and IT has officially sanctioned this strategic investment under its Electronics Component Manufacturing Scheme (ECMS). Rahul Sharma, Co-founder of Bhagwati Products, underscored the initiative’s role in moving India beyond simple assembly, fostering crucial domestic expertise in these advanced areas.

Key Investment Figures

• Total Investment: Rs 1,015 crore
• Display Manufacturing Allocation: Rs 450 crore
• Precision Moulding Allocation: Rs 565 crore

Expanding Display Production

The display manufacturing segment will operate through TXD India Technology Private Limited, following Bhagwati Products’ acquisition of a 51% stake. Production of mobile phone displays will commence at TXD India’s facility in Bawal, Rewari, Haryana, starting with an initial capacity of 1.5 million displays monthly.

This capacity is projected to escalate to between 3-4 million displays per month, with future plans for diversification into the automotive display sector. The strategic move aims to localise a critical component of electronics production.

Precision Moulding and Job Creation

Concurrently, the precision moulding services will be established at a dedicated facility in Greater Noida. Both manufacturing projects are scheduled to begin production this year, reinforcing a commitment to immediate operational impact.

These initiatives collectively promise to generate substantial employment, with expectations of creating over 10,000 new jobs across the various manufacturing facilities. This signals a clear intent to boost both industrial output and human capital within the Indian electronics ecosystem.