Samsung plans mobile phone unit in Haryana

Samsung Telecommunications has decided to set up a $15 million facility to manufacture mobile handsets in Haryana. "This is part of Samsung's plan to invest in Haryana in a phased manner," said Ki Tae Lee, president of Samsung Telecommunications in Seoul.

Responding to Haryana Chief Minister Bhupinder Singh Hooda's invitation to invest in the state, he said Samsung Telecommunications was planning to set up several units outside South Korea, and Haryana in India figured prominently on his list of investment destinations.

The new mobile handset facility would cater for the fast-growing Indian market as well as the requirements of the neighbouring markets, Ki Tae Lee said.

Ki Tae Lee also showed the Haryana business delegation, which is on a four-day visit of Korea, the factory of Samsung Electronics Ltd, company headquarters, and its research and development centre.

Earlier during the day, a roadshow was organised jointly by the Korean International Trade Association (KITA) and the Indian Embassy at Seoul. Over 30 leading Korean companies took part in the show, said a senior Haryana government official.

Welcoming the Haryana chief minister, Young Soo Han, senior KITA executive director said India had been heading to be the third largest economy of the world after the US and China in coming years. "India has vast human resource, natural endowments, raw material and business opportunities to attract foreign investments in industry and service sector," he said.

Haryana had a great potential to be the first choice of any multinational company looking for new investment opportunities in India, he said and added its proximity to New Delhi was an additional advantage.

Hooda invited Korean companies to invest in the food processing, electronics, information technology, textiles, footwear and leather garments, automobile and auto components sectors.

Assuring the prospective investors that the state government would strive to make their ventures successful, he offered them to invest at any location of their choice in the state.

The Haryana chief minister also invited Korean companies to participate in the development of special economic zones, industrial model townships, the power sector, transport logistics and transport hubs in the state. Addressing the representatives of Korean companies, Hooda said Haryana was among the leaders in production of passenger cars, scooters and motor cycles, bi-cycles, refrigerators, scientific instruments and tractors.

The chief minister said Haryana was the third largest exporter in the information technology sector in India. Haryana was the home of multinational companies such as Suzuki, Honda, Denso, Mitsubishi, Nestle, GE Capital, Coca Cola, IBM, Perfetti, Johnson Mathey among others, he added.