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

Samsung Sets up Worlds Largest Mobile Factory in Noida PC IANSSamsung Sets up Worlds Largest Mobile Factory in Noida PC IANS

Past year in June, the consumer electronics major had announced that it would invest Rs 4,915 crore to double its manufacturing capacity for smartphones and refrigerators at its Noida plant.

Not China or South Korea - and certainly not the United States - the tag of housing the world's largest mobile factory has straight away put Noida on top of the world manufacturing map when it comes to consumer electronics.

Prime Minister Narendra Modi will also accompany Moon during the inauguration of the Samsung plant, world's largest mobile factory. The 35-acre facility will reduce time to market and give Samsung more elbow room to export to neighboring regions - ultimately giving Samsung a leg up on its competitors.

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Until six months ago, Samsung was the top smartphone seller in India but it was overtaken by Xiaomi - the Chinese rival that just went public in Hong Kong - at the end of 2017.

Korean electronics giant Samsung went in for a major expansion at its India operations, almost doubling the manufacturing capacity at its Noida plant from 68 million devices annually to 120 million. More than 120 local factories now assemble mobile phones and accessories like chargers, batteries, powerbanks and earphones in India, according to tech research firm Counterpoint.

"India is witnessing dynamic development", Moon said, adding that his country would contribute actively to the "Make in India" policy aimed at boosting Indian manufacturing. India is using 40 crore smartphones, 32 crore people are using broadband technology.

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Samsung India said in a press statement that the bigger manufacturing plant will respond to the growing demand for Samsung products across India. On day two of his India visit, Moon will address an India - Korea Business Forum and inaugurate South Korean tech giant Samsung's largest mobile unit in Noida along with PM Modi.

Earlier on Sunday, the South Korean president, accompanied by the first lady and his wife Kim Jung-sook, kick-started his maiden India visit with a tour of Akshardham temple in Delhi.

The Prime Minister of India Narendra Modi travelled in Delhi Metro's Blue Line with President of South Korea Moon Jae-in. Samsung makes the entire range of its smartphones at the Noida factory and these include the flagship devices Galaxy S9 and Note 8.

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"India is the most dynamic country". It overtook the USA a year ago to become the world's second-largest smartphone market after China.

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