Wednesday, 19 September, 2018

Samsung plant will enhance economy, boost India-Korea ties: PM Modi

Narendra Modi Samsung plant will enhance economy, boost India-Korea ties: PM Modi
Beatrice Douglas | 10 July, 2018, 08:10

Prime Minister Narendra Modi and South Korean President Moon Jae-in will visit Noida today will inaugurate the New Mobile Manufacturing Plant of Samsung at Noida.

'This 50 billion-rupee investment will not only strengthen Samsung's business ties in India, it will also play a key role in India-Korea relations, ' Modi said in a speech in Hindi at the inauguration of the plant. "In the past four years, the number of mobile manufacturing factories has gone up from two to 120". "2,000 new jobs will be generated in this plant", he said. "We "Make in India", "Make for India" and now, we will "Make for the World", said HC Hong, Chief Executive Officer, Samsung India.

Although Samsung held the top spot on the list of mobile phone manufacturers in India for a long time, it was recently knocked down to the second position by Chinese manufacturer Xiaomi.

The new facility will help Samsung double its current capacity for mobile phones in Noida to an annual 120 million units after the phased expansion plan is complete, the company's statement said. Over the weekend, Samsung opened the world's largest mobile phone factory on the outskirts of Delhi, via Bloomberg.

Samsung is setting up shop in India in a big way.

Stating that smartphones made at the factory will be exported to the Middle-east and Africa, he said Korean government will do utmost to provide all support.


Speaking on the new investment, a Samsung official had said that the latest investment in Noida plant would double the production capacity of smartphones.

"Samsung is a world leader in technology today".

Announcing the investment previous year, the South Korean giant said that it would position the Noida plant as a major production hub and create about 5,000 new jobs.

The prime minister's office (PMO) tweeted a picture of the two leaders travelling on the Delhi Metro.

The dignitaries boarded a train on the Blue Line route connecting Dwarka to Noida City Centre around 4:30 pm at the Mandi House station and alighted at the Botanical Garden station around 5 pm. Both used tokens like everyday passengers and it was ensured that the movement of the train is not delayed due to the special visit. "This is a great milestone in the history of Samsung India which will take our country's manufacturing abilities to newer heights", Asim Warsi, Global Vice President, Samsung India, told IANS on the sidelines of the event.

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