Rahul Sharma, co-founder of Bhagwati Products Limited, has demanded the central government to extend the incentive of production for mobile manufacturing (PLI) scheme from the year 2026-27. He says that since this scheme, India became the whereabouts of manufacturing of mobile phones and at the same time have been established as export centers. Indian entrepreneur, co-founder of mobile phone brand Micromax, said that the scheme has got huge success and India can benefit from adjournment at the US government fees.
Sharma said, “In view of the success of the country, I think there is definitely a need to increase the deadline of this scheme.” He said that due to this scheme, there has been an increase in the level of production in the country in the last few years. According to the Ministry of Electronics and Information Technology, about 99 percent of more than 33 crore smartphones sold in the country are currently made in India. Apple and Samsung are one of the largest exporters of smartphones from India and their exports in FY 2025 were around Rs 2 lakh crore. Bhagwati products, which manufacture joint venture with Chinese original design manufacturer, now make equipment for Vivo and OPO.
The company is planning to double its income from mobile phone manufacturing to more than Rs 12,000 crore in FY 2026. In the last financial year 2025, the company’s revenue was Rs 6,200 crore. The company acquired a Vivo’s manufacturing unit in Greater Noida last year, as the Chinese smartphone was looking for the manufacturer for Indian partner. Sharma confirmed that some OPO smartphone models were also being built from this plant and this year many more such brands would be included in the list. He said that in FY 2024, the company’s revenue was Rs 620 crore. He said, ‘We are expecting earning Rs 1,000 crore every month. We are bringing an American brand together and the conversation with them is going on. ‘
The company will spend Rs 500 crore on the expansion of its manufacturing plants and will also look for new locations as its target is to increase phone production in FY 2026 to increase three times the level of 70 lakhs to FY 25 to 2.5 crore. The company makes phones and tablets in Bhiwadi, Hyderabad and Greater Noida.
First Published – April 17, 2025 | 10:25 PM IST
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