Noida: In a mega event here, Samsung Electronics Co Ltd, a South Korean technology giant, announced an investment of Rs 4,915 crore in its Noida plant, where it manufactures smartphones, refrigerators and flat-panel televisions. The investment will give a boost to ‘Make in India’ and ‘Make for India’ and the state of Uttar Pradesh.
The expansion of the plant on an additional 35 acres of land adjacent to the current facility will double the production capacity of both mobile phones and refrigerators, further consolidating its leadership in the mobile phones and consumer electronics segments. The investment proposal was recently approved by the Uttar Pradesh government under its mega policy.
A groundbreaking ceremony was held at the new site in the presence of Ravi Shankar Prasad, Minister for Communications & IT and Law & Justice, Satish Mahana, Minister of Infrastructure & Industrial Development, Government of Uttar Pradesh, Amitabh Kant, CEO, NITI Aayog, senior officials of Government of India and the government of Uttar Pradesh. JK Shin, CEO, Samsung Electronics Co Ltd and HC Hong, President and CEO, Samsung Southwest Asia, were present, along with other dignitaries.
Ravi Shankar Prasad said, “India will provide the best quality human resource to work for Samsung.” He lauded the initiatives such as Make in India, Digital India, Smart Cities and other initiatives, which help to promote industries and development. Sharing the government’s vision, he said, “In the next five years, the government has a target to reach 1 trillion dollars digital economy.”
The expansion of the plant will act as a catalyst for the development of a robust electronics manufacturing ecosystem and is expected to generate thousands of new jobs, both direct and indirect, across the country.
HC Hong, President, and CEO, Samsung Southwest Asia, said, “Ten years ago in June 1997, we rolled out our first product from the Noida factory, which was a television. Today, Samsung is the poster boy of Make in India. This new investment of Rs 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. Today, on the back of the Digital India movement led by millions of young Indians, we are witnessing a rise in adoption of electronic devices, smart appliances and mobile phones. A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country.”
Amitabh Kant, CEO, NITI Aayog, said that Samsung is one of the biggest taxpayer and employer in India. He said, “The company’s target is to manufacture 100 million mobiles by 2020.”
When asked about Apple’s local manufacturing in India and how it will affect Samsung, Deepak Bhardwaj, Vice President, Corporate Affairs, Samsung - South West Asia, said, “We like competition but the strength of Samsung in manufacturing in India is far ahead of any competition.”