On Wednesday, Information and Technology Minister Ravi Shankar Prasad said “The government expects a digital economy of $ 1 trillion by 2020 and Samsung India will lead this movement, as the South Korean technology giant Samsung announced an investment Growing Rs 4,915 in the expansion of its Noida manufacturing plant.”
The plant expansion on a 35-acre site adjacent to the existing facility will double Samsung’s production capacity of mobile phones and consumer electronics, further consolidating the company’s leadership in these segments.
While talking with reporters, Prasad said “Samsung had already struggled to get the approval of the expansion. With Yogi Adityanath becoming the chief minister of Uttar Pradesh, the investment proposal was quickly followed and approved by the state government under its “Mega policy.”
“The investment of Rs 4,915 crore will reflects our continued commitment to” Make in India “and Uttar Pradesh which was our partner from the very beginning of Samsung’s trip to the country,” said Mr. Hong.
“In the back of the” Digital India “movement led by millions of young Indians, we are witnessing an increase in the adoption of electronic devices, smart devices and mobile phones. A larger manufacturing facility will help us meet the growing demand for Samsung products across the country, “he added.
“We want to make India a global production center with the support of the government,” said Mr. Hong.
Prasasd also said that, “when the BJP came to power, the previous government had invested Rs 11,000 crore towards the electronics industry.”
“Now the investment is at Rs 1.53 lakh crore with 40 mobile manufacturers and 33 manufacturers of mobile components investing in the country over the past three years,” Prasad told reporters.
Samsung has two production facilities: in Noida and Sriperumbudur, Tamil Nadu, five R & D centers and a design center in Noida, employs more than 70,000 people and develops its network on more than 1.5 lakh.
Hong said all products, including the newly launched Galaxy S8 and S8 + premium smartphones, sold in the country are “Made in India”.
According to reports, Samsung crop will manufacture 12 mobile phones this year.
Samsung currently has 10 percent of its overall production in India and aims to raise it to 50 percent over the next three years.