Increase in Investment in India by Samsung Electronics

Samsung Electronics may hire more than 300 engineers before the end of this year at its R&D centers located in India as per the industry sources.

Samsung India said :

“The 23 campuses of the IIT are home to India’s best young engineers who can contribute to the innovation of Samsung,”

It is likely that Samsung Electronics, in doing so, will become the company employing the largest number of this year’s Indian Institute of Technology (IIT) graduates.

At present, about 45,000 Indians are working for Samsung in India. Samsung Electronics is increasing its investment in the Indian market. In the month of October this year, Samsung Electronics decided to expand its manufacturing facilities located in Noida, Uttar Pradesh by investing approximately 340 billion won (US$306 million). The purpose of the investment is to double its smartphone production volume in India.

Earlier on September 15, Samsung Electronics vice chairman Lee Jae-yong met with Prime Minister Narendra Modi in New Delhi. There, the vice chairman said that his company would make efforts to contribute to the future of India.

Samsung Electronics vice chairman Lee Jae-yong said,

“We will maintain our cooperative relationship with the Indian government and Samsung India will become one of our most important strategic points.”

Source : http://www.businesskorea.co.kr/english/news/ict/16735-strategic-global-base-samsung-electronics-increasing-investment-india