1. Samsung to help India become $1 trillion digital economy: Ravi Shankar Prasad

Samsung to help India become $1 trillion digital economy: Ravi Shankar Prasad

The government is aiming at a $1 trillion digital economy by 2020 and Samsung India will spearhead this movement, Information and Technology.

By: | Noida | Published: June 7, 2017 7:41 PM
The government is aiming at a trillion digital economy by 2020 and Samsung India will spearhead this movement. (Reuters)

The government is aiming at a $1 trillion digital economy by 2020 and Samsung India will spearhead this movement, Information and Technology Minister Ravi Shankar Prasad said here on Wednesday as the South Korean giant announced Rs 4,915 crore investment in expanding its Noida manufacturing plant. The government is aiming at a $1 trillion digital economy by 2020 and Samsung India will spearhead this movement, Information and Technology Minister Ravi Shankar Prasad said here on Wednesday as the South Korean giant announced Rs 4,915 crore investment in expanding its Noida manufacturing plant.

The expansion of the plant on a 35-acre land adjacent to the current facility will double Samsung’s production capacity of both mobile phones and consumer electronics, further consolidating the firm’s leadership in these segments. “Samsung was earlier finding it difficult to get approval for the expansion. With Yogi Adityanath becoming Uttar Pradesh Chief Minister, the investment proposal was fast-tracked and approved by the state government under its ‘Mega Policy’,” Prasad told reporters here. A groundbreaking ceremony and traditional puja was held at the new site in the presence of the IT Minister, State Minister for Infrastructure and Industrial Development Satish Mahana, NITI Aayog CEO Amitabh Kant, and other senior officials.

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J.K. Shin, Samsung Electronics CEO, and H.C. Hong, President and CEO of Samsung Southwest Asia, were present at the event. “The new investment of Rs 4,915 crore is a testament to our continuing commitment to ‘Make in India’ and to Uttar Pradesh which has been our partner right from the day Samsung’s journey began in the country,” Hong said. “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. A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country,” he added. Samsung’s Noida plant was one of the first electronics manufacturing facilities set up in the country in the early 1990s.

  1. J
    Jay
    Jun 7, 2017 at 10:25 pm
    Tiny S Korea has spawned Giants like Hyundai, LG, Samsung, Brother, KIA,.. worthy of emulation by Our Nation. A Million Namastes to Yogi Adithyanath ji
    Reply

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