In light of the “Make In India” programme, Samsung has made a humongous investment of INR 4,915 crores for its Noida factory expansion in Uttar Pradesh, India. The factory currently manufacturers mobile phones, televisions and refrigerators. This investment has been done with the intention to double the production of mobile phones and televisions.
The expansion will increase the existing area of 120,000 square meters to 240,000 square meters and take the production of 5 million mobile phones to up to 10 million.
Certain big companies are showing huge interest in making India one of their largest production hubs especially for the South Asia region. Recently, Apple did the same in South India as they intend to make iPhones locally thereby bringing the market price down to increase the sales in the country.
Samsung’s manufacturing facility in Noida was established in 1997. On this occasion, Samsung made the statement –
“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.”
News source: mobile.163.com