Samsung’s new India phone factory is ‘world’s largest’
Samsung’s new India phone factory is ‘world’s largest’
Noida now has the largest mobile factory in the world
09 July, 2018, 17:26
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. The new plant will provide 1,000 more jobs directly.
With this, the company will double its current capacity for mobile phones in Noida from 68 million units a year to 120 million units a year, in a phase-wise expansion that will be completed by 2020, the company said in a release Monday.
Since taking power in 2014, Modi has pushed his "Make in India" initiative, which encourages companies to set up plants in the country, as the nation attempts to bolster domestic manufacturing.
Ahead of the visit, a spokesperson in Moon's office in Seoul had said that the leaders will focus on expanding "future-oriented cooperation" between the two countries. Before the launch of the Noida plant Samsung was manufacturing 67 million phones in India, mostly at its other base in Tamil Nadu, Southern India. Expansion, which will be fully complete in 2020, is expected to almost double Noida (New Okhla Industrial Development Authority), India's current phone producing capabilities from 68- to 120 million phones per year. "This has given employment to over 4 lakh youth".
According to HC Hong, President and CEO, Samsung India, a bigger manufacturing plant will help them cater to the growing demand for Samsung products across the country.
Samsung factory is key to India-Korea relations, stated Modi. He claimed that the factory will provide 35,000 jobs directly and indirectly, and the state government will ensure that the unit got the proper infrastructure it needed.
Following this, Prime Minister Modi will then hold official talks with President Moon at Hyderabad House, which will be followed by an official lunch.
Ms Jung-sook's meeting with Indian students and a screening of "Dangal" was arranged in the run up to President Moon Jae-in's visit to India. "Both the policies will come to completion when prosperity spreads across the whole of Asia". Stay with us as we bring you all the latest updates and information on Moon's India visit.
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