Samsung, the South Korean tech giant, has always showed up its keen interest in Indian market. The Indian electronics market is expanding rapidly, considering the fact, the company has now set up a new manufacturing unit in Noida. Today, Samsung’s Indian division celebrated the inauguration of the new site which would be manufacturing smartphones, TVs and refrigerators.
In order to set up and making this new site operational, Samsung invested a whopping $762 million (roughly 4,915 crore INR). It is a testament of Samsung’s commitment to India’s “Make in India” initiative, which calls to make India into a global design and manufacturing Hub.
The 35 acre site’s inauguration was attended by Indian government ministers and officials along with Samsung Electronics President and CEO of Southwest Asia, HC Hong and CEO of Samsung Electronics Co. Ltd, JK Shin.
With this new manufacturing unit in place, Samsung has plans to double the production of smartphones and refrigerators in India.
In regards to the latest expansion, Samsung stated “This new investment of INR 4,915 crore is a testament to our continuing commitment to ‘Make in India’ and to Uttar Pradesh, which has been our partner right from the day Samsung’s journey in India began. Steadfast support from the state and local authorities in Noida has helped make our vision of ‘Make for India’ a reality.”