At Yokohama Port, chaos erupts when dockworkers uncover Pushpa Raj hidden within a red sandalwood shipment. Ambushed and shot, Pushpa falls into the sea, triggering a powerful flashback. Now a dominant smuggler, Pushpa wages war against corrupt SP Shekhawat and political betrayal. When Chief Minister Narasimha Reddy denies him a photo, Pushpa vows to elevate Siddappa to power by earning ₹5,000 crores through global sandalwood deals.

Outwitting enemies, Pushpa smuggles real sandalwood to Sri Lanka using bullock carts, fooling Shekhawat into seizing decoys. The plan works until Hameed, Pushpa’s contact, dies before revealing a crucial Japanese broker’s name. Cornered, Pushpa stows away to Japan, emerging victorious against the yakuza and securing the money from Hiroshi, the Japanese boss.

Back in India, Pushpa fulfils his political promise but suffers personal loss when Bugga Reddy kidnaps and assaults his niece, Kaveri. Enraged, Pushpa slaughters Bugga’s gang, igniting a vendetta from Minister Pratap Reddy and others. Reunited with his brother at Kaveri’s wedding, Pushpa’s joy is short-lived. A mysterious figure detonates a bomb, plunging everything into chaos once again.