Electronics manufacturer, Bhagwati Products Limited on Tuesday said it has crossed the ₹17,000 crore revenue milestone, marking a significant step in the company’s growth journey and reflecting the momentum created by its expanding manufacturing footprint, strong position in the smartphone ecosystem, and growing capabilities across the electronics value chain.

The company said it was also evaluating opportunities in deep-tech and semiconductor-linked investments as part of its broader strategy to strengthen domestic value addition and build deeper capabilities across the electronics value chain.

Bhagwati’s partnership with Huaqin has been another important growth catalyst. Through its 51:49 joint venture with the global ODM leader, Bhagwati Products has strengthened its product development, engineering and manufacturing capabilities while enhancing its ability to scale alongside global brands, it said.

The revenue increased nearly tenfold from around ₹620 crore in fiscal year 2023-24 (FY24) to ₹6,200 crore in FY25, underscoring the pace at which the business has scaled over the past two years, the company said.

The smartphone business continues to be the company’s largest revenue driver, it said adding that with the capacity to manufacture up to 40-million smartphones annually, Bhagwati Products serves leading global brands including Vivo, Oppo and Lenovo.

Beyond smartphones, the company is steadily expanding its presence across adjacent categories such as tablets and TWS devices, strengthening its participation in fast-growing segments of the consumer electronics market, it said.

“Our ambition is to build India’s leading electronics design platform. We believe India’s opportunity lies not just in manufacturing products at scale, but in building deep capabilities in design, engineering, components and advanced manufacturing,” Rahul Sharma, Co-Founder, Bhagwati Products Limited, said.

The milestone also reflects Bhagwati Products’ evolution beyond large-scale manufacturing. The company is steadily building capabilities across design, engineering, components and advanced manufacturing, creating a more integrated electronics platform that supports both current growth opportunities and future technology categories, he said.

“By strengthening design-led innovation and integrating global technology capabilities into India, we aim to enable global brands to scale with confidence while positioning India as a stronger force in the global electronics value chain,” Sharma added.

Published on June 23, 2026