Smartphone makers from Xiaomi Corp to Oppo Mobiles are building factories in the world's fastest growing market for the product bolstering Modi's push to encourage overseas investors to "Make in India".
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He also said that today's launch will help citizens and boost the Make in India initiative. The manufacturing plant was jointly inaugurated by India's PM Narendra Modi along with South Korean President Moon Jae-in. The factory will provide jobs to more than 2,000 people.
Ahead of the trip to India, Moon and his office emphasized the importance of India in the New Southern Policy on numerous occasions before the trip.
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. They will also visit a Samsung plant in Noida. "India today is the second bigger manufacturer of mobile phones".
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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. "Altogether, over 400,000 people are working in those units and Samsung is spearheading this with a workforce of 70,000 people". The expansion of Samsung's Noida facility - one of two manufacturing plants in the country - will help Samsung increase its phone production by nearly double. "The investment reaffirms Samsungs commitment to Make- in-India and Make-for-India and to the state of Uttar Pradesh", Samsung India had stated in a statement.
They travelled with tokens in a normal train with passengers and there was no delay in services on the Blue Line due to their movement, the spokesperson added.
Moon, who was on his first visit to India since being elected president previous year, sought an expansion of trade and economic ties with India. A commitment to local manufacturing will no doubt go a long way for Samsung, which now ranks as the number two smartphone maker in the country, behind Xiaomi.
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