Samsung To Invest Rs 4,915 Crore For Noida Plant Expansion
Samsung Electronics Co. Ltd. plans to invest Rs 4,915 crore in expanding its manufacturing facility in Noida for doubling its production capacity of smartphones and refrigerators by 2020.
The company currently produces 50 lakh smartphones and 15 lakh refrigerators from the Noida plant annually.
Samsung manufacturers refrigerators and smartphones out of its existing unit in Noida, and the additional capacity added would also cater to the same products, Deepak Bhardwaj, vice-president, Samsung Electronics India, told reporters at the ground breaking ceremony of the plant.
The company said the plant would cater to both, domestic demand, as well as exports, but did not provide a break-up of the same out of its existing facility.
“The expansion would result in 5,000 more jobs,” Bhardwaj said.
The government aims to make India a $1 trillion digital economy in the next 5-7 years and Samsung would help in achieving the target, Information Technology and Electronics Minister Ravi Shankar Prasad, who was also present at the event, said.
The company has a second manufacturing unit close to Chennai, Tamil Nadu, five research and development centres. Samsung employs 70,000 people in India, the company said.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
