Business

PM Modi And South Korean President Moon Inaugurate World's Largest Mobile Factory In UP

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| July 9 , 2018 , 18:51 IST

Prime Minister Narendra Modi and South Korean President Moon Jae-in inaugurated Samsung's largest mobile factory in Noida, Uttar Pradesh on Monday.

Samsung, before the expansion of the plant, was making 67 million smartphones in the country. It is expected that the new plant will double the production to 120 million units.

Both the leaders travelled via Delhi metro to reach world's largest mobile factory at sector 81 Noida in Uttar Pradesh.

Speaking on the occasion, PM Modi described the occasion as a special one in the journey to make India a global manufacturing hub. He said, "the investment of about Rs. 5000 crore, would not only strengthen Samsung’s business links with India but is also significant in the context of the relationship between India and Korea."

"Digital technology is playing a key role in making the lives of the common man simpler, including through faster and more transparent service delivery. The expansion of smartphones, broadband and data connectivity are signs of a digital revolution in India," he added.

Korean President Moon praised the cultural diversity and passion for learning and innovations in the country and said, "India has 65 percent young population that shows India has great entrepreneurial startups awaiting."

"The cooperation between India and South Korea shows both countries are the best companion of each other," he added.

Also Read: Samsung India Sets Up World's Biggest Mobile Factory In Noida

Samsung India had announced Rs. 4,915 crore investment to expand the plant in June 2017 and the expansion decision will benefit the company to increase the production capacity.

Samsung has one more manufacturing plant in Sriperumbudur, Tamil Nadu and 1.5 lakh retail outlets in the country that provide employment to over 70,000 people in the country.

Samsung India was set up in 1995 and commenced its production in 1997. The company is planning to increase its total production in India from 10 percent to 50 percent in the next three years.