Bhagwati Private Limited, one of the top domestic names eligible for the Production Linked Incentive (PLI) scheme in mobiles introduced by the government has witnessed a lot of business growth opportunities over the last year. The company invested over Rs 100 crore last year and planning another Rs 500 crore investment in the next three years. Announced in 13 sectors, the PLI scheme has been launched to boost local manufacturing and make India a preferred export hub.
"I am happy to say that we have got a lot of business opportunities which was not there before the PLI. A lot of people have started talking to us in last year," says Rajesh Agrawal, Director, Bhagwati Private Limited.
"Under the PLI for mobiles, the benchmark is of Rs 50 crore investment for every year for a domestic manufacturer. We have already invested more than Rs 100 crores in the plant and machinery. We have invested in the expansion of our state-of-art plant wherein if given opportunity, I can even produce Apple devices," adds Aggarwal.
The company also plans to invest another Rs 500 crore over the next 3 years given the expansion in play. "The game has started now. The government of India has understood what to do. The cabinet is about to announce PLI for tablets and laptops also and we will be one of the frontrunners for PLI in IT hardware," says Aggarwal. Bhagwati is in talks with the tablet and laptops companies and hopeful of getting good business from there as well.
Bhagwati Pvt. Ltd., a contract manufacturer, had set up its manufacturing facility in India in 2011 and manufacturers feature phones and smartphones, LED TV (including smart TVs) and Air Conditioners across three plants in Bhiwadi, Telangana and Rudrapur with an annual capacity of 20 million units. The company has a state of the art machinery using Surface Mount Technology and multiple assembly lines. Currently in contract manufacturing arrangement with domestic including Micromax as well as international brands, the company is also in conversation with other multinational brands to start manufacturing for them.