Micromax Arm Bhagwati Products Invests in Display, Moulding

New Delhi, Aug 17 (PTI) Bhagwati Products Limited, an arm of Micromax Informatics, plans to invest Rs 1,015 crore in display manufacturing and precision moulding, the company said on Monday.

The company's projects have been approved by the Ministry of Electronics and IT under the Electronics Component Manufacturing Scheme (ECMS).

"India's manufacturing journey is now moving beyond assembling finished products. Our INR 1,015 crore investment in display manufacturing and precision moulding – two critical areas where India requires domestic capabilities – is an important step to support the country's growing electronics manufacturing goal," Bhagwati Products Co-founder, Rahul Sharma said in a statement.

The display manufacturing initiative with an investment outlay of Rs 450 crore will be undertaken through TXD India Technology Private Limited, following Bhagwati Products' recent acquisition of a 51 per cent stake in TXD India, for which the company has already received Press Note 3 approval.


As part of this initiative, Bhagwati Products will manufacture mobile phone displays at TXD India's existing facility in Bawal, Rewari, Haryana, with an initial capacity of 1.5 million displays per month. The company plans to scale this capacity to 3-4 million displays per month over the long term and subsequently expand into the automotive display segment.

The company plans an investment of Rs 565 crore in precision moulding services that will be undertaken at the Greater Noida facility.

"Both projects, expected to commence production this year, are expected to generate additional employment opportunities across manufacturing facilities and take the overall strength to over 10,000 employees," the statement said.

Bhagawati Products is the electronics manufacturing and contract assembly arm of Micromax Informatics, the owner of the Micromax smartphone brand.