Prime Minister Narendra Modi will inaugurate the world’s largest mobile factory, set up by Samsung, in Uttar Pradesh’s Noida on Monday, 9 July, along with South Korean President Moon Jae-in. He is on a four-day visit to India. He was received by Minister of State for Home Affairs VK Singh on his arrival in New Delhi on 8 July. South Korea established formal ties with India in 1973.
Samsung has two manufacturing plants — in Noida and in Sriperumbudur, Tamil Nadu — five R&D centers, and one design center in Noida, employing over 70,000 people and expanding its network to over 1.5 lakh retail outlets. The 35-acre Samsung Electronics facility at Sector 81 in Noida, Uttar Pradesh was one of the first electronics manufacturing facilities set up in the country in the early 1990s. The plant first started manufacturing TVs in 1997. The current mobile phone manufacturing unit was added in 2005.
In June last year, the South Korean giant announced a Rs 4,915 crore investment to expand the Noida plant and, after a year, the new facility is ready to double production. The company is currently making 67 million smartphones in India and with the new plant being functional, it is expected to manufacture nearly 120 million mobile phones. Not just mobiles, the expansion of the current facility will double Samsung’s production capacity of consumer electronics like refrigerators and flat-panel televisions, further consolidating the company’s leadership in these segments.
The new 35-acre Samsung Electronics facility in Sector 81, Noida, will see the two leaders together at a quickly prepared helipad adjacent to the factory to officially inaugurate it on Monday.
The South Korean president is in India to hold bilateral discussions on economic cooperation. Having been invited by Modi, Jae-in will also meet President Ram Nath Kovind on his first visit to the country, the statement from the South Korean president’s office said.
South Korea’s presidential Blue House added that India is becoming a crucial partner for Seoul not only in terms of the economy, but regarding its plans for peace and prosperity on the Korean peninsula as well.
SIASAT NEWS.