PM Modi, Moon inaugurate world’s biggest mobile manufacturing factory in Noida
Prime Minister Narendra Modi and South Korean president Moon Jae-in took the Blue line of the Delhi Metro to travel to Noida for the inauguration of Samsung Electronics’ mobile phone manufacturing facility, said to be the world’s largest.
Prime Minister Narendra Modi and South Korea President Moon Jae-in inaugurated a Samsung Electronics mobile phone manufacturing facility, billed as the world’s largest, in Noida on Monday.
The 35-acre factory would not only generate more jobs but also make India a global export hub, Modi said.
“Whenever I talk to business community representatives I always mention one thing – that I don’t think there is a middle class home in India where a Korean product is not found,” he added.
Modi said his government’s ‘Make in India’ initiative has propelled India to become the world’s second-largest manufacturer of mobile phones as the number of factories soared to 120 from just 2 four years ago.
The new plant, built at a cost of Rs 5,000 crore, will help Samsung raise its capacity in a phased manner, from 68 million units at present, to 120 million.
The facility in Sector 81 will allow Samsung to manufacture phones at a lower cost due to its scale, while other phone making hubs in China, South Korea and Vietnam are getting expensive, analysts who track the sector said.
Modi said Samsung will export 30 per cent of the handsets made in Noida to other markets.
The two leaders travelled on the Delhi Metro to reach the inauguration ceremony, which was also attended by Uttar Pradesh chief minister Yogi Adityanath and senior Samsung officials.
Earlier in the day, Modi and Moon visited Gandhi Smriti to pay tribute to Mahatma Gandhi.
The South Korean President is on a three-day visit to India, having arrived in New Delhi on Sunday evening. This is Moon’s first-ever state visit to India after he took over as the President last year.
He will be accorded a ceremonial reception at the Rashtrapati Bhawan on Tuesday.
Later, Prime Minister Modi will hold official talks with President Moon at Hyderabad House, which will be followed by an official lunch. The two leaders will also address the India-South Korea CEOs Roundtable.
In the evening, president Moon will meet his Indian counterpart Ram Nath Kovind, who will also host a banquet for the visiting dignitary and his delegation at the Rashtrapati Bhawan. A number of agreements are likely to be signed during the visit.