Samsung Strengthens South India Presence with Fresh Investment
South Korean electronics giant Samsung Electronics will invest 10 billion rupees (approximately 117 million dollars) in its factory near Chennai in southern India, Tamil Nadu's Minister for Industries and Commerce, T. R. B. Rajaa, announced on Friday, according to a report by Reuters.
The investment announcement comes amid recent worker protests at the factory following employee layoffs.
The minister stated that this investment reflects Samsung’s confidence in Tamil Nadu’s workforce and will create 100 new jobs.
It is worth noting that last year, the same factory witnessed a five-week strike over demands for higher wages and union recognition. The factory currently employs more than 2,000 workers and contributes about one-fifth of Samsung’s 12 billion dollars in Indian sales for the 2022–23 fiscal year.
Samsung has not yet issued an official comment regarding the investment.
