India’s rising consumer base to draw more MNCs, says Samsung’s JB Park

India’s expanding consumer market, policy support and deep pool of engineering talent are increasingly positioning the country as a preferred destination for multinational manufacturers looking to diversify beyond China, according to JB Park, president and CEO of Samsung Southwest Asia, reported TOI.

Global brands have already begun rethinking their production strategies for large-scale manufacturing, Park said, pointing to India’s production-linked incentive schemes and growing domestic demand as key draws. These factors, he added, are steadily strengthening India’s appeal for multinational corporations.


Speaking in an interview with TOI, Park, who has led Samsung’s India operations for the past three years and has spent a total of eight years in the country, said the shift is already visible. “It is already happening. In my eight years here, I have seen the transformation. It's a matter of time before global brands diversify from China and bring more opportunity to India,” he said when asked about India’s prospects in competing with manufacturing hubs such as China and Vietnam. “The PLI policy is enabling this. Gurugram looks like Singapore to me now.”

India currently accounts for about 10% of Samsung’s global revenues. The company recorded a turnover of Rs 1.1 lakh crore in FY25, registering an 11% growth. Park said India’s contribution to Samsung’s global business is set to rise further, driven by strong consumer adoption of new technologies, particularly artificial intelligence. He noted that usage of such innovations is among the highest in India compared with global markets.

Park also highlighted steps taken by the government to improve the ease of doing business for multinational companies. “The govt is already working on PLI 2.0. Regulatory areas like BIS are being re-looked at to make business faster and more friendly,” he said.

He said recent GST rate reductions have played a role in boosting domestic consumption, especially in categories such as large-screen televisions and air conditioners where duties were lowered. “It triggered domestic consumption which helps create jobs,” Park said, adding that the impact has extended to the broader economy.

On India’s talent base, Park said engineering and software capabilities are emerging as a critical strength for Samsung’s global operations, including work related to semiconductors. “India's strongest resource is brilliant engineers. You see, today around 30% of Fortune 500 CEOs are Indian nationals, and that's just the start of India's potential. Software and AI must be the strength of India in the next 30 years,” he said.

Samsung currently operates three research and development centres in India, located in Delhi, Noida and Bengaluru, employing more than 10,000 engineers. Park said their work is not limited to domestic requirements. “It's global. What we develop here is for the global platform. Everything from mobile (phones), consumer electronics, TV, and refrigerators,” he said.

On semiconductors, Park said Samsung has already begun the “R&D part of it” in Bengaluru, though he declined to comment on any plans to set up a fabrication unit in India.

Addressing competition from Chinese smartphone brands that have gained market share in recent years, Park said there is a need to closely monitor unfair pricing practices.

He also flagged the growing role of automation and robotics in manufacturing, saying this will reduce the traditional advantage of low-cost shop-floor labour. Park said governments should focus on training workers to handle automation, artificial intelligence and more efficient manufacturing processes to remain competitive.

With inputs from TOI