logo
Samsung India reaches mutual agreement to enhance wages and benefits for workers

Samsung India reaches mutual agreement to enhance wages and benefits for workers

Time of India19-05-2025

Samsung has announced a mutual agreement to enhance wages and benefits, in line with the demands of workers, after the final round of wage negotiations between the
Samsung India
management and the CITU-backed
Samsung India Workers' Union
(SIWU) took place on Monday.
"We have constructively engaged with all our workers at the Chennai plant and are delighted to announce a mutual agreement to enhance wages and benefits for the next three years," a Samsung India spokesperson said in a statement.
The talks on Monday have been part of a series of discussions held between the union and the management over several demands, including wage revision and workplace concerns.
"After sustained dialogue and responsible discussions from all sides, all differences pertaining to the Samsung unit have been settled amicably,"
Tamil Nadu industries minister
TRB Rajaa said in a post on X (formerly Twitter). "(I) am thankful to the fantastic labour force of Samsung and the Entire management of Samsung for trusting the system and engaging in healthy dialogue."
The issue between the management and the workers flared up following months of unrest that followed the initial protests, which took place in September 2024, where nearly 1,000 workers affiliated with SIWU staged a 37-day strike demanding higher wages, improved working conditions, and formal recognition of their union.
The protests took place at Samsung's Sriperumbudur plant near Chennai, which employs around 1,800 workers.
While the strike ended in October post a partial resolution, tensions resurfaced again early this year after several union members were suspended, prompting fresh protests and sit-ins by the workers.
The strike was called off on March 7 after the intervention of the state government and Samsung's assurance to respond in writing to the union's charter of demands, which included a revision of wages to Rs 36,000 per month over three years.
The spokesperson went on to thank the Tamil Nadu chief minister, the minister for labour and employment, and the minister for industries for their continued support while reiterating that the South Korean consumer electronics giant remained committed "to building a positive and productive workplace in the region."

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Small gold loan LTV increased to 85% from 75%
Small gold loan LTV increased to 85% from 75%

The Hindu

time31 minutes ago

  • The Hindu

Small gold loan LTV increased to 85% from 75%

The Reserve Bank of India (RBI) has decided to increase the loan to value (LTV) amount for small gold loans of up to ₹2.5 lakh from one borrower from 75% to 85% including interest, RBI Governor Sanjay Malhotra said on Friday. He said the final directions on loans given against gold as collateral would be issued on Friday or on Monday. 'First of all the direction was only a draft, it was not final. There is nothing new in the draft direction, it is a consolidation of past regulations and we have recreated it. It was observed that some regulated entities (REs) were not implementing it because it lacked clarity. Because now everything is in black and white, that is why we have been getting comments,' the governor said. He said the draft makes it clear that at the absence of invoice, one can give a self-declaration and there was no need to worry in that front. More clarity will be provided on the final direction as and when it is published, he said. 'On credit appraisal, it will not be applicable for small loans of upto Rs 2.5 lakh if gold is pledged. End use will only be monitored if benefit is being taken under priority sector lending,' he clarified. He said the LTV formula will be applicable on consumption loans and not on others. 'Today LTV is 75%. For small loans we have increased it to 85% including interest for loans below Rs 2.5 lakh per borrower,' he said.

Mukesh Ambani to give Rs 151 crore grant to his alma mater ICT in Mumbai
Mukesh Ambani to give Rs 151 crore grant to his alma mater ICT in Mumbai

Indian Express

time39 minutes ago

  • Indian Express

Mukesh Ambani to give Rs 151 crore grant to his alma mater ICT in Mumbai

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, has announced an unconditional grant of Rs 151 crore to his alma mater, the Institute of Chemical Technology (ICT), Mumbai. The announcement was made during his visit to the institute for the launch event of a biography titled Divine Scientist, chronicling the life and work of his former mentor, Professor M.M. Sharma. Ambani, who graduated from the institute in the 1970s when it was known as the University Department of Chemical Technology (UDCT), paid tribute to Prof. Sharma. Recalling his first lecture, Ambani said it left a lasting impression on his academic and professional journey. He praised Prof. Sharma not only as an academic giant but also as a quiet architect of India's economic liberalisation. 'Like my father, Dhirubhai Ambani, he had a burning desire to transform Indian industry — from a system of scarcity to global leadership,' Ambani remarked. 'These two visionaries believed that science, technology, and private enterprise could open the gates to national prosperity,' he added. Ambani described Sharma as a 'Rashtra Guru – a Guru of Bharat,' and credited him for influencing policymakers to dismantle the license-permit raj, enabling Indian industries to scale up, reduce imports, and compete globally. The Rs 151 crore donation was made in honor of Prof. Sharma's request. 'When he tells us something, we just listen. We don't think. He told me, 'Mukesh, you have to do something big for ICT.' This is my Guru Dakshina,' Ambani said. The contribution is expected to significantly strengthen ICT's research infrastructure and global collaborations.

Permissions granted for 53 applications through single desk portal
Permissions granted for 53 applications through single desk portal

Hans India

time41 minutes ago

  • Hans India

Permissions granted for 53 applications through single desk portal

Nandyal: District Collector G Raja Kumari on Friday directed officials to promptly grant approvals for applications submitted through the Single Desk Portal, in order to promote aspiring industrialists in the district. Presiding over the District Industrial and Export Promotion Committee (DIEPC) meeting held at the Collectorate's video conference hall, the Collector emphasized the importance of facilitating the establishment of industries in the district. The meeting was attended by District Industries Centre (DIC) General Manager Javahar Babu, Lead District Manager Ravinder Kumar, SC/ST Chamber of Commerce President Rajamahendranath, and other concerned department officials. During the meeting, the Collector stated that 65 industrial proposals were received over the last quarter under the Single Desk system. Out of these, approvals have already been granted for 53 units by the respective departments. She instructed the officials from the Environment and Factories Departments to resolve the remaining 12 applications within the stipulated timeframe. Highlighting the government's commitment to supporting entrepreneurs, the Collector announced that under various industrial incentive schemes such as investment subsidy, interest subsidy, electricity concessions, and sales tax benefits, a total of Rs.31.85 lakhs has been sanctioned to 16 production and service-based units in the district. She further called for enhanced awareness among youth in both urban and rural areas regarding industrial investments and the establishment of new units, underscoring the crucial role of grassroots-level entrepreneurship in economic development. Among those present at the meeting were Deputy Chief Inspector of Factories Narayana Reddy, Pollution Control Board Executive Engineer Kishore Reddy, Transport Department Officer Aishwarya Reddy, and representatives from various departments and industrial associations.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store