Bhagwati Products Aims ₹15,000 Cr Revenue by FY26 with Design-Led Growth

Homegrown electronics manufacturer Bhagwati Products is gearing up for a major expansion, setting an ambitious revenue target of around ₹15,000 crore in FY26, more than double the ₹6,200 crore achieved last fiscal. The company’s growth strategy is driven by expanding production across Android tablets, wearables, storage devices, and smartphones, with exports to the US forming a crucial part of its plans.

According to co-founder Rahul Sharma, Bhagwati is building a new manufacturing facility and planning another large-scale plant that could become its biggest in India. The company is also transitioning from being a pure contract manufacturer to a full-fledged Original Design Manufacturer (ODM), a move expected to bring higher margins and greater control over its supply chain. To support this shift, Bhagwati is strengthening its in-house research, tool room, and design capabilities, ensuring greater backward integration and flexibility in product innovation.

Its strategic alliance with Chinese ODM Huaqin provides access to a wide global customer base, including Amazon, Meta, Samsung, Lenovo, Xiaomi, and HP. Currently, Bhagwati manufactures smartphones for Oppo, Vivo, iQOO, and Realme, along with tablets for OnePlus, Acer, and Lenovo, and wearables like earbuds and smartwatches for global brands. The company is also working on original designs for mixed-reality glasses, which Sharma described as the next big breakthrough after smartphones.

Bhagwati currently produces up to 2 million smartphones every month at its Greater Noida facility. To meet rising demand, it is adding a new factory and expanding its workforce, which has grown from 1,000 to over 10,000 in less than a year. The company has invested $10 million in upskilling and hiring during 2024 and is finalizing component manufacturing plans, including display assemblies and mechanical parts, to strengthen India’s design-led electronics ecosystem.

Source: ET Telecom