The South-Korean giant Samsung is reportedly planning to invest over INR 5 Crore ($84 million) in India in order to boost its mobile product line, reports The Press Trust Of India (PTI), citing industry sources. The company’s spokesperson told PTI that “We are looking at strengthening our manufacturing presence in the country, to fulfil our growing needs in the market. However we are not able to provide further details at this stage.”
“Samsung is working to invest Rs 500 crore in its mobile production facility in India. It had approached Government in this regard to take benefit of policy announcements and other incentives. The investment proposals have been cleared at Department of Electronics and IT (DEITY) level,” a source told PTI.