Samsung to set up third manufacturing unit in India
07 March 2015
In a booster to Prime Minister Narendra Modi's 'make in India' campaign, South Korean technology giant Samsung Electronics Co Ltd is in talks with Indian states about building a third manufacturing plant in the country, the company said on Friday.
"While we are in talks with the state governments, nothing has been decided," Samsung said in a statement. It didn't say how much it might invest, or what products any new plant might make.
But an unconfirmed report on Friday suggested that Samsung was considering building a new plant to make smartphones and other electronic goods; and may invest between $500 million and $1 billion in it.
An Economic Times report said the company, among India's largest multinationals, is scouting for land in Uttar Pradesh, Tamil Nadu and Gujarat.
A Samsung spokesperson confirmed the company's plans. "Samsung Electronics sees India as a very important market. Being a leading player in the consumer electronics and durables business and India's biggest television and smartphone manufacturer, we are committed to the idea of 'Make for India'," he said.
He declined to comment on investment details. "However, we can confirm that we are in talks with state governments, including the government of Uttar Pradesh, where we already have a plant,'' he added.