Korean major Samsung plans to invest in India about Rs 350 crore within a
year to ramp up its electronics production, according to government
"Electronics manufacturing policy has been attractive.
has again proposed to invest about Rs 350 crore in its electronics
plant. This is in addition to about its Rs 400 crore investment made for
the mobile phone facility," a government official told PTI.
The company plans to invest this amount in production of flat panel TVs and washing machines, he added.
No comments were received from Samsung on the matter.
has gained following a government decision in August to impose 36 percent import duty on flat panel TVs that were brought into India as part
of baggage by passengers from abroad, the source added.
industry body Consumer Electronics and Appliances Manufacturers
Association, about 1 million TVs were coming in as accompanied baggage
in a year, which constitutes about 20 percent of the total market size
of the country.
The production of flat panel TV in the country has
grew by about 39 percent in September and 20 percent in October on
In July, Department of Electronics and IT cleared Samsung proposal of Rs 406 to invest in handset manufacturing.