Bhagwati Products Limited (BPL), which is aiming to become India’s leading and premium original design manufacturer (ODM), riding along with its venture partner Huaqin Technology says is on road to generate an estimated revenue of ₹15,000 crore in FY 2025-26 backed by rapid demand across smartphones, tablets, TWS devices and storage solutions.
In 2024, BPL generated ₹620 crore revenue while in 2024-25, it clocked ₹6,200 crore revenue. In April 2025, BPL reported a 10X revenue growth in April 2025, 8 months after the joint venture approval with Huaqin. It said that a significant share of this growth was fuelled by large-scale smartphone manufacturing for global brands including Vivo and Oppo.
BPL is also expanding its operations with a new manufacturing facility near its flagship 1,500,000 sq. ft. facility in Greater Noida to meet the increased demand. BPL has clients like Vivo, Oppo, OnePlus, Realme, iQOO, Lenovo, Motorola and Acer covering a wide spectrum of product categories like smartphones and tablets.
At its current manufacturing facility in Greater Noida, BPL is producing 2 million smartphones per month. In 2024, it had 4 SMT lines which has increased to 23 lines by 2024-25.
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BPL is making smartphones, tablets, TWS and routers and will further move to making smartwatches. It has plans to venture into AR/VR making soon for the global clients.
BPL said it is on track to achieve 25 million production target by the end of 2025, spanning smartphones, tablets, wearables and storage devices. It has been simultaneously working towards entering component manufacturing, starting with display and expanding into mechanics by year end.
BPL said that it has increased its workforce from 1,000 to nearly 10,200 employees in under a year, including permanent and contractual. The company said it will be investing close to $10 million in upskilling and hiring initiatives, with a structured Knowledge Transfer and Upskilling Program developed in partnership with Huaqin.
Going forward, BPL is set to diversify its various portfolios and the company aims to cater to a large set of customers and segments like automotive, data centres and robotics.
BPL used to sell Micromax phones in India before Chinese smartphone players came in around 2013-14. The company did not have any plans to revive it now, but rather it will focus on designing and manufacturing products for its long clientele and new verticals.
BPL has manufacturing facilities across Greater Noida (Uttar Pradesh), Hyderabad (Telangana), Bhiwadi (Rajasthan) and Rudrapur (Uttarakhand). In 2024, it formed a joint venture with China-based Huaqin Technology and in the same year, it partnered with Taiwanese storage maker Phison to launch a new venture called MiPhi.
“Our journey over the last year has been one of speed, scale, and skill, but also of vision and responsibility. We are not just focused on building for today but are laying the foundation for the future of Indian electronics design and manufacturing. From rapidly scaling operations and building trusted partnerships with some of the world’s leading technology brands, to investing heavily in people, training, and design-led capabilities, we are creating an ecosystem that is globally competitive and locally rooted. As we strengthen our design synergies and expand into components, our ambition is to make India not only self-reliant but also a driving force in the global electronics value chain,” said Rahul Sharma, Co-founder Bhagwati Products Limited.
Published – August 27, 2025 06:00 am IST