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.

Like this



20 June 2017
Samsung to unveil Galaxy Note 8 in NY in August
According to the same source, Samsung plans to launch its Galaxy Note 8 device in the third or fourth week of August. Do you agree? Let us know your thoughts down in the comments.

20 June 2017
Sardar Singh called for questioning by United Kingdom police
Claiming to be Sardar's fiancée, the girl had accused the then Indian captain of abuse and even forcing her to abort a pregnancy. However, in May 2016, a Special Investigation Team formed by Ludhiana Police Commissioner JS Aulakh gave Sardar the clean chit.

20 June 2017
Skyworks Solutions, Inc. (SWKS) Shares Bought by Strategic Financial Services Inc
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. Cibc World Markets Inc has invested 0.01% in Skyworks Solutions Inc (NASDAQ:SWKS). 17,707 were reported by Bowling Lc.

20 June 2017
Attorney General Jeff Sessions Will Testify Before the Senate Intelligence Committee
Comey himself had a riveting appearance before the same Senate panel last week, with some key moments centered on Sessions. Sessions has been dogged by questions about possible additional encounters with the ambassador, Sergey Kislyak .

20 June 2017
The Conjuring spinoff Annabelle: Creation gets a new trailer and poster
Creation is set for release on August 11th and stars Stephanie Sigman , Talitha Bateman , Anthony LaPaglia and Miranda Otto . The Nun , meanwhile, is on track for a July 13, 2018 release with The Hallow's Corin Hardy directing.

20 June 2017
How a Referendum on Trump Became the Most Expensive House Race Ever
She instead tore into Ossoff as a liberal with "San Francisco" values who identified with House Minority Leader Nancy Pelosi . Business owners Brian Sleeth and Dave McCleary are equally appalled, but for reasons that leave them backing Handel.

20 June 2017
Nifty scales 9700, Sensex hits fresh all-time high of 31430
The S&P BSE Midcap and the S&P BSE Smallcap indices erased morning gains to shed 0.8 per cent and 1 per cent, respectively. The market breadth remained positive as 1,437 stocks ended higher, 1,238 declined, while 189 ruled unchanged.

20 June 2017
Sarepta Therapeutics, Inc. (SRPT)
Out of 10 Wall Street analysts rating Sarepta Therapeutics, 7 give it "Buy", 0 "Sell" rating, while 3 recommend "Hold". Sphera Funds Management LTD. purchased a new stake in Sarepta Therapeutics during the third quarter worth $16,154,000.

20 June 2017
Uber boss Travis Kalanick takes indefinite leave as CEO
Eric Holder speaks at the 44th Annual Congressional Black Caucus legislative conference on September 26, 2014 in Washington, DC. Uber set up a hotline for complaints after that and hired the law firm of Perkins Coie to investigate.

20 June 2017
1993 blast: Arguments to continue on quantum of punishment
In the case of Riyaz Siddique, who has only been convicted under TADA charges, the maximum punishment would be life imprisonment. In the first leg of the trial that concluded in 2007, the TADA court convicted 100 accused, while 23 people were acquitted.