Bhagwati Products Ltd, one of India’s largest consumer electronics and smartphone manufacturers, with facilities in Rajasthan’s Bhiwadi and Telangana’s Hyderabad, has become the first domestic company to receive disbursement under the Production-Linked Incentive (PLI) scheme for IT hardware.
The company has qualified incremental sales thresholds and investment criteria in accordance with the scheme’s requirements and was awarded Rs 5.30 crore by the Ministry of Electronics and Information Technology.
The company, which has been producing smartphones, LED TVs, tablets, laptops and air-conditioners from its two facilities with an annual capacity of 20 million units, was one of the indigenous companies that were approved under the existing PLI schemes for smartphones, IT hardware (tablets and laptops), and air-conditioning components.
Under the ‘Atmanirbhar Bharat’ and ‘Make in India’ initiatives, India aims to become a global manufacturing hub while also increasing employment in the sector. Bhagwati has already made significant investments in expanding the manufacturing facility and adding more SMT lines to meet the growing demand from both domestic and international brands.
Bhagwati Product Ltd’s current capacity across factories is nearly two million smartphones per month and one million LED TVs per month. They are also working with local partners to expand the ecosystem and generate employment opportunities in the country to support the collective vision of Atmanirbhar Bharat.
After the IT ministry awarded the payment under the PLI scheme, Rajesh Agarwal – Director of Bhagwati Products Ltd, said: “We are amongst the very first Indian manufacturers in the sector and is the first to achieve this incentive under the PLI scheme is a key milestone in our journey… It is indeed a huge recognition and support for us and we are committed to building the best-in-class component ecosystem in the country, with a focus on making investments and creating jobs in the country. With this, we not only aim to boost the domestic market but also aim to take Indian manufacturing on the global map.”
According to previous reports, apart from Bhagwati (Micromax), there were 13 other companies like Dell, ICT (Wistron), Flextronics and Rising Stars Hi-Tech (Foxconn), Lava International Limited, Dixon Technologies (India) Limited, Infopower Technologies (JV of Sahasra and MiTAC) who were approved by the IT ministry under the PLI for IT hardware.
This PLI scheme, notified on March 3, 2021, was launched with the aim that over the next four years, it will help to create more than 36,000 additional direct job opportunities, as well as nearly three times as many indirect job opportunities. It also proposes production-linked incentives to boost domestic manufacturing and attract large investments in the IT hardware value chain.
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