Science

Samsung to invest additional Rs 4915 crore to Make in India

Samsung to invest additional Rs 4915 crore to Make in India”

Ltd will invest Rs4,915 crore in its Noida plant to double its production capacity for mobile phones and refrigerators, in order to maintain its lead in an already crowded market for both products.

The Noida plant started with the manufacturing of televisions in 1997 while the current mobile phone manufacturing unit was added to the facility in 2005.

"We like Samsung because it does a very high level of value addition in India".

Samsung is aiming to double the amount of handsets it manufactures in India to ten million units a month with a KRW700 billion ($623 million) investment.

The Yogi Adityanath government did its bit to help Samsung set up the Rs 4,900 crore project in Noida by waiving off the stamp duty the company had to pay for the lease of land for its mega project.

The "Make in India" initiative was launched in 2014 by the Government of India to "encourage national, as well as multi-national companies to manufacture their products in India".

As samsung is the oldest in manufacturing stuff in India they are surely going to get the advantage when we compare it with their other competitors in the market like Xiaomi, Oppo, Vivo.

The land Samsung has acquired for the expansion of its current facility in Noida Sector 81. The investment proposal was recently approved by the Uttar Pradesh government and will create thousands of direct and indirect jobs, Samsung said in a press release. Said HC Hong, President and CEO of Samsung's Southwest Asia division. As per the company, this would create 5,000 jobs and also position the Noida plant as a major manufacturing unit.

Samsung now has two factories-in Noida and Sriperumbudur, Tamil Nadu, along with five R&D centres and one design centre in Noida, employing over 70,000 people, a company statement said.

Samsung, a South Korean multinational conglomerate headquartered in Samsung Town, Seoul, has their hands in many different products from phones, televisions, games, and household appliances. "I am sure, with this expansion, Samsung will take its global production from 10% to close to 50% in the next 3 years", said Amitabh Kant, CEO of NITI Aayog.

Apple has begun assembling iPhone SE models with Wistron Corporation, its Taiwanese manufacturing partner.



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