Samsung Electronics is looking forward to expanding India’s Tamil Nadu facility by investing INR 1,000 crore to conquer the Indian smartphone market of 156 million units per year.
In the past few years, India has made its name as one of the most attractive manufacturing hubs for several tech giants, including Samsung. The Korean tech giant has two major manufacturing hubs in India, including one in Noida and another in Tamil Nadu’s Sriperumbudur.
Now, Samsung is planning to invest INR 1,000 crore, which is nearly $117 million, to expand the Tamil Nadu factory. The reason behind this investment is the increasing demand for products like refrigerators, washing machines, and TVs, and all of these are manufactured in Tamil Nadu’s Sriperumbudur.
The investment is anticipated to be efficient for the brand to produce more products to meet the growing demands of customers in India and other countries. Regarding this, the Industries Minister of Tamil Nadu, Dr. TRB Rajaa, via an X post, stated, “Samsung to make an additional investment of Rs. 1000 crore in existing facility in Sriperumbudur, creating 100 more jobs, reinforcing their faith in the labor force of Tamil Nadu.”
A few days ago, the Tamil Nadu plant went through some labor issues, with workers protesting and going on strike over suspensions, but the company didn’t step back and faced the issue as a capable leader. Samsung collaborated with local brands such as Dixon Technologies to help with manufacturing, which resulted in increased production at the plant.
The Korean tech giant is benefiting from India’s Production-Linked Incentive (PLI) scheme, which offers financial help to companies for setting up or expanding factories in India. However, it will be interesting to see how much this new investment will result in the favor of the company.
