With the help of its venture partner Huaqin Technology, Bhagwati Products Limited (BPL), which wants to become India’s top and premium original design manufacturer (ODM), estimates that it will make ₹15,000 crore in FY 2025–2026 thanks to the strong demand for smartphones, tablets, TWS devices, and storage solutions. In 2024, BPL made ₹620 crore, and in 2024–2025, it made ₹6,200 crore. In April 2025, eight months after the joint venture with Huaqin was approved, BPL reported a 10X increase in income. It claimed that a substantial portion of this expansion was driven by the extensive production of smartphones for well-known international companies like Vivo and Oppo. In order to satisfy the growing demand, BPL is also growing its business by building a new manufacturing plant close to its flagship 1,500,000 square foot facility in Greater Noida. Vivo, Oppo, OnePlus, Realme, iQOO, Lenovo, Motorola, and Acer are just a few of the companies that BPL works with on a variety of product categories, including tablets and smartphones. BPL currently produces two million smartphones a month at its Greater Noida manufacturing facility. It had four SMT lines in 2024, but by 2024–2025, that number had grown to 23 lines. In addition to producing smartphones, tablets, TWS, and routers, BPL plans to start producing smartwatches. It intends to shortly enter the AR/VR production market for its international clientele.
According to BPL, it is on course to meet its production goal of 25 million units by the end of 2025, which includes wearables, tablets, smartphones, and storage devices. In parallel, it has been aiming to start manufacturing components, first in display and then, by the end of the year, in mechanical. In less than a year, BPL’s workforce—which includes both permanent and contract workers—grew from 1,000 to around 10,200. With a systematic Knowledge Transfer and Upskilling Program created in collaboration with Huaqin, the company announced that it will be spending about $10 million on hiring and upskilling activities. In order to serve a wide range of clients and market niches, including robots, data centers, and the automotive industry, BPL plans to diversify its different portfolios in the future.
Before Chinese smartphone companies entered the Indian market in 2013–14, BPL sold Micromax phones. The business has no intentions to bring it back anytime soon; instead, it will concentrate on creating and designing goods for both new verticals and its long-standing clientele. BPL maintains production plants in Rudrapur, Uttarakhand; Hyderabad, Telangana; Bhiwadi, Rajasthan; and Greater Noida, Uttar Pradesh. In 2024, it established a joint venture with Huaqin Technology, a company based in China, and introduced MiPhi, a new partnership with Taiwanese storage manufacturer Phison.
In addition to speed, scale, and expertise, our journey over the past year has also involved vision and accountability. We are creating the groundwork for the future of Indian electronics design and manufacture, not just for the here and now. We are establishing an ecosystem that is both locally rooted and globally competitive by investing extensively in people, training, and design-led capabilities, as well as by quickly scaling operations and forming reliable alliances with some of the top technology brands in the world. Rahul Sharma, co-founder of Bhagwati Products Limited, stated, “Our goal is to make India not only self-sufficient but also a driving force in the global electronics value chain as we strengthen our design synergies and expand into components.”
