Samsung confirms INR 49 bln investment plans in India

Samsung expands Make in India spree with Rs 4,915 crore investment in Noida plant
Samsung to Invest Rs. 4915 Crores to Expand Phone, TV Manufacturing in India
Author

20 June, 2017

Samsung Electronics plans to double the production capacity for mobile phones and fridges at its main factory in India, expanding in a country where USA rival Apple Inc. has started assembling phones.

Today, Samsungs Indian division celebrated its inauguration of the site of expansion for the South Korean companys Noida plan where it makes smartphones, TVs and refrigerators. The plant started with the manufacture of televisions back in 1997, and a mobile phone manufacturing unit was added in 2005.

"We like Samsung because it does a very high level of value addition in India". The plant will create jobs and also reaffirm Samsung's commitments to the Government of India's "Make in India/Make for India" initiatives targeting both global and Indian consumers.

With over 40% of new mobile manufacturing units being set up in Noida and Greater Noida in Uttar Pradesh over the past two years, Electronics and IT Minister Ravi Shankar Prasad on Wednesday pitched for development of these cities along the lines of Singapore. Every mobile phone or television that we sell here (India) is made in India.

Deepak Bharadwaj, Vice-President, Samsung, said the company is also looking to increase export of other consumer durables from India after the expansion is in place.

This is part of the new CM's efforts to get more business into Uttar Pradesh and is the first project under the new Yogi government to get such a help.

"Samsung was earlier finding it hard to get approval for the expansion".

Speaking on the occasion, HC Hong, President and CEO of Samsung Southwest Asia, said, "A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country".

Samsung has two factories - in Noida and Sriperumbudur, Tamil Nadu, five R&D centers and one design centre in Noida, employing over 70,000 people and expanding its network to over 1.5 lakh retail outlets. Samsung now has 10 percent of its overall production in India and aims to take it to 50 percent over the next three years.

Apple began assembling its iPhone SE model last month in the southern Indian technology hub of Bengaluru and a government official has said it could increase the local share of production over time.


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