Samsung to invest money in Noida plant

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Investments in the electronics manufacturing sector now stand at Rs1,53,000 crore, up from Rs11,000 crore, when the Narendra Modi government came to power in 2014, Prasad said, adding that India is home to 72 mobile manufacturing units -42 mobile manufacturing and 30 component manufacturing.

Amidst growing market share of Chinese smartphone players, Samsung will double its smartphone productions after expanding its factory in Noida by 35 acres as part of the Make in India, Make for India initiative.

Talking to journalists on the sidelines, Mr. Prasad said the expansion of the plant by Samsung will create direct employment for 5,000 people and indirect employment for 15,000 people.

The Noida plant was was set up in 1996 and is the first of two manufacturing units in India for the company.

"Samsung's target is to manufacture about 100 million mobile phones by 2020.they produce 10% of their global production from India".

On May 27, the Yogi government had remitted the stamp duty chargeable on the instruments of conveyance and on the instruments of lease of land executed in favour of Samsung as a "Mega Project" with a view to "providing special facilities and concessions by the state government", says a notification issued by the UP Governor, and accessed by ET. Ltd. and HC Hong, President & CEO, Samsung Southwest Asia.

Nearly every mobile phone manufacturer, including Lava and Intex, have their plants in the city.

Deepak Bharadwaj, Vice-President, Samsung, said the company is also looking to increase export of other consumer durables from India after the expansion is in place.

Samsung expects the expansion of the factory will generate thousands of new jobs in India, both directly and indirectly. 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.

HC Hong, president and CEO of Samsung Southwest Asia, said: "Every product, including the recently launched Galaxy S8 and S8+ smartphones, being sold in the country are Made in India".

Samsung now has two factories in India, one in Noida and a second one in Sriperumbudur, Tamil Nadu.