|
Samsung to make India export hub; eyes $58bn sales
T V Sriram
Singapore, Nov 28: Global electronic giant Samsung has unveiled ambitious plans to make India the export base for its market in the Middle East, Sri Lanka, Bangladesh and other countries to achieve a global sales target of $58 billion by 2005. "Our production unit in India is proposed to be used as an export base for our market in the Middle East and South Asian countries," managing director of Samsung, India, Kwang Soo Kim told reporters covering the Samsung Future Lifestyles summit here. "We are working in that direction," he said.Kim said the abundance of cheap skilled labour acted as an incentive for pumping in large investments in India for not only its global market but for also pushing up domestic sales. Meanwhile, at the international press conference earlier on Thursday, the president and chief executive officer of Samsung Electronics Asia, Oh Dong Jin said India was an important market for the multinational company. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
|