Samsung reportedly increasing investment in India
A new report out of South Korea claims that Samsung Electronics is increasing its investment in India by hiring more than 300 engineers before the end of this year. The engineers will be working at its research and development centers located in the country. If it does end up doing this, it’s likely that Samsung would be employing the largest number of students graduating from the Indian Institute of Technology this year. Samsung India currently employs around 45,000 people in the country.
Samsung has already taken a few steps this year to increase its investment in India. Earlier this year it decided to expand its manufacturing facilities in Noida, Uttar Pradesh at a cost of $306 million. The investment would double smartphone production volume in the country. In a meeting with Prime Minister Narendra Modi earlier this year, 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.”