Bhagwati Products achieves disbursement for IT hardware under the PLI scheme
Bhagwati Products Ltd. has become the first domestic company to achieve the disbursement under the PLI Scheme for IT hardware. The manufacturing champion has qualified incremental sales thresholds and investment criteria as per the requirements of the scheme and bagged INR 5.30 CR by the Ministry of Electronics and Information Technology. This is a testament and one of the most significant recognitions of the excellence and manufacturing prowess of the company.
Bhagwati Products Ltd. was amongst the approved domestic companies under the existing PLI schemes for smartphones, IT hardware (Tablets & Laptops) and air-conditioner components. With an aim to make India a hub for global manufacturing and generate higher employment in the sector under ‘Atmanirbhar Bharat’ and ‘Make in India’ initiatives. Bhagwati has already invested heavily in expanding the manufacturing facility and adding more SMT Lines to cater to the growing demand both from domestic & international brands.
On this momentous occasion, Rajesh Agarwal - Director, Bhagwati Products Ltd. said, “We are honored and grateful to the Government of India for recognizing our efforts. We are amongst the very first Indian manufacturers in the sector and being the first to achieve this incentive under the PLI scheme is a key milestone in our journey. Our heartiest thanks to our customers and local authorities for showing their trust in our company. 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.”
With two established state-of-the-art manufacturing facilities in India - Bhiwadi (Rajasthan) in the North and Hyderabad (Telangana) in the South. Bhagwati Product Ltd.’s current capacity across factories stands at almost 2 million smartphones a month, and 1 million LED TVs per month, and are scaling up the capacities of these facilities, while also continually working with local partners to expand the ecosystem and generate employment opportunities in the country to support the collective vision of Atma Nirbhar Bharat.
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