Samsung to Expand in India with $760 Million Investment

Samsung announced an investment of $763 million in India to expand its plant at Noida in the northern state of Uttar Pradesh, where it manufactures smartphones, refrigerators, and TVs.

Android Authority reports that the company added an additional 35 acres of land adjacent to the current facility to double the production capacity of both mobile phones and refrigerators. The new site was inaugurated with a ground-breaking ceremony and traditional puja (prayer) in the presence of officials from the Indian government along with JK Shin, CEO, Samsung Electronics Co. Ltd. and HC Hong, President & CEO, Samsung Southwest Asia.

Ground breaking of new Samsung Facility

Hong said, “This new investment 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.”

Once the factory is fully operational, it will be able to produce approximately 10 million smartphones every month. Samsung in India is set to make Noida the manufacturing hub and also starting exporting from the plant to U.S.A., and Europe by 2020.

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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