Friday, Mar 29 2024 | Time 15:28 Hrs(IST)
image
Business Economy


Mah CM inaugurates HARMAN's manufacturing plant,calls it 1st major investment post 2019 LS polls

Pune, Jun 3 (UNI) Maharashtra Chief Minister Devendra Fadvanis on Monday inaugurated a HARMAN automotive electronics manufacturing plant at Chakan here in the presence of National Institute for Transforming India (NITI) Aayog CEO Amitabh Kant.
HARMAN,a wholly-owned subsidiary of Samsung Electronics Company,announced the II phase of the manufacturing plant in sync with the national priority program ‘Make in India’.
The phase II expansion will triple HARMAN's production capacity by the year 2021 as the manufacturing unit will install 4 new world- class SMT production/assembly lines, scaling from existing 2 to 6 lines so as to meet the growing demands for innovative connected car solutions globally, statement said.
Speaking at the event,CM Fadvanis said, "We welcome HARMAN’s new investment to boost manufacturing in the state of Maharashtra. Over the last five years, our government has had a relentless focus towards improving the ease of doing business in our state. We are excited to see a large, global corporation like HARMAN taking advantage of our programs and working towards empowering skilled workforce in India. Our Prime Minister Narendra Modi, often calls Pune - 'Detroit of India' - as we see immense potential in the city, for it to lead as the global hub of automotive manufacturing."
Established in 2014, currently HARMAN’s Chakan-based plant manufactures highly sophisticated connected car solutions including automotive infotainment units for India’s domestic and global automotive customers.
HARMAN will also double its factory headcount to about 800 employees in the same time period and the total value of this investment is 350 crore (US$50m), the statement mentioned.
"We believe that the future of India’s economy is dependent on the strength and nature of our large corporations, and I’m encouraged to the first major investment by HARMAN, coming immediately after the general elections. Under the PM’s governance, India is set on a high trajectory growth rate by undertaking a series of structural reforms across sectors which will catalyze private sector investments and job creation," asserted CM Fadnavis.
With this expansion, HARMAN will be able to manufacture highly complex, customized connected car electronics solutions for its large domestic and global customers including Maruti Suzuki, Daimler (Mercedes Benz), Volkswagen Group, TATA Motors and Fiat Chrysler.
HARMAN President & CEO Dinesh C Paliwal commented,"HARMAN is the leading supplier of critical electronic systems to the global connected car industry. Rapid improvement in India’s business friendly policies and ease of doing business helped us make this investment decision."
"This significant manufacturing expansion is largely in support of our growth plans and ‘Make in India’ vision. This is a major milestone for us and demonstrates our growing commitment to the country. We already have over 9,000 world class engineers and scientists at our R&D centers in Bangalore, Pune and Delhi who are contributing to our global growth. We are grateful for the support we have received from the state of Maharashtra," added CEO Paliwal.

UNI SP KAZ SY 1939
More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image