Today, Samsung’s Indian division celebrated its inauguration of the site of expansion for the South Korean company’s Noida plan where it makes smartphones, TVs and refrigerators.
The investment of over $762 million (INR 4,915 crore) is a testament of Samsung’s commitment to India’s initiative called “Make in India”, which calls to make India into a global design and manufacturing Hub
The 35 acre site’s inauguration opened in traditional fashion: with the 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.
The expansion will double the production of smartphones and refrigerators in India. Here’s Samsung’s statement regarding the expansion.
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.