The new 35-acre Samsung Electronics facility at Sector 81 in Noida, Uttar Pradesh, will see Prime Minister Narendra Modi and South Korean President Moon Jae-in landing together at a quickly-prepared helipad adjacent to the factory to officially inaugurate it on Monday.
The facility was jointly inaugurated by Modi and Moon Jae-in, President of the Republic of Korea.
He said the "Make in India" initiative is not just an economic policy measure, but also a resolve of better ties with friendly nations such as South Korea. "Whenever I talk to business community representatives, I always encourage them to manufacture in India". "India today is the second bigger manufacturer of mobile phones". "Now, this manufacturing unit is also coming here", Modi was quoted as saying.
Samsung factory is key to India-Korea relations, stated Modi. It has 5000 employees in Noida itself. During the last 9 years, the channel has won over 197 awards and accolades at the prestigious Asian Television Awards, Ramnath Goenka Excellence in Journalism Awards, Indian Television Academy Awards, News Television Awards and Indian Telly Awards, making it India's Most Awarded English News Channel. 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.
Built on 32 acres of land next to Samsung's (SSNLF) original factory in India, the plant will allow the South Korean firm to almost double the number of smartphones it makes in India every year from 68 million to 120 million by 2020.
Samsung, which has been assembling phones in India since 2007, also plans to export India-made handsets.
The company is aiming to increase the overall production capacity by 50 percent, which is now at 10 percent.
"It makes sense for Samsung to build a bigger manufacturing base here", Jaipal Singh, Senior Market Analyst, IDC, told IANS.
Samsung is expected to create 15,000 jobs through the new manufacturing unit.
South Korean President lauded young and enterprising Indians and also the country's software prowess, and noted Korea's strength is in commercial technology and hardware.
"It is a matter of pride for India and Uttar Pradesh". "The Korean government will tap into the Korea-India financing package worth $10 billion to provide active funding for these infrastructure projects", he said. The current mobile phone manufacturing unit was added in 2005. The smartphone market remained flat year-on-year, according to Counterpoint. 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.
According to International Data Corp, India's smartphone market grew 14 percent past year to 124 million units, the fastest rate of growth among the top 20 markets.