Samsung to invest Rs.4,915 crore in expanding its Noida manufacturing facility

Samsung will invest Rs 4,915 crore over the next three years in expanding its Noida manufacturing facility where it will make mobile phones and refrigerators.
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Samsung will invest Rs 4,915 crore over the next three years in expanding its Noida manufacturing facility where it will make mobile phones and refrigerators, even as the government expects the South Korean company to make 120 million phones annually by 2020.

Minister of electronics and IT Ravi Shankar Prasad said the government will go the extra mile to encourage investments and growth in its Make in India programme, which will get a fillip with Samsung’s expansion. The investment will make India a global hub for Samsung’s exports.

The IT and electronics ministry, said, "Samsung’s expanded unit will make 12 crore mobile phones a year, so you can imagine what will happen in three years in Make in India… it’s a result of the government’s proactive approach."

He added, "We are quite open to the idea of having new policy initiatives to facilitate more growth."

The minister’s comment comes at a time when the industry is clamouring for clarity on continuation of incentives under duty differential, which is said to go away after introduction of the goods and services tax (GST) regime from July 1.

The latest addition to Make in India is Apple, which started making iPhone SE from Bengaluru through a contract manufacturer, Wistron, from April this year, but is seeking more incentives from the government.

Deepak Bhardwaj, Vice President-corporate affairs at Samsung South West Asia, said, "If someone is coming today to manufacture, it’s their story, but our story is very old… Noida gives efficiency, created a large ecosystem with over 120 suppliers and vendors."

Market leader Samsung that locally makes all its phones sold in India will expand its manufacturing operations in 35 acres in Noida. The expansions will double the production capacity of both mobile phones and refrigerators, further consolidating its leadership in the mobile phones and consumer electronics segments.

HC Hong, President, Samsung Southwest Asia, said, "A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country."

 
 
 
 
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