Samsung’s biggest factory will be inaugurated in India today

Samsung’s biggest factory will be inaugurated in India today

During the visit, Moon will also meet President Ram Nath Kovind, who will host a banquet in his honour.

This is Moon's first-ever state visit to India after he took over as the President a year ago.

"In India, there are approximately 40 crores smartphone users and 32 crores are now subscribers of broadband connection", he added.

"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. They will also visit a Samsung plant in Noida.

"Our Noida factory, the world's largest mobile factory, is a symbol of Samsung's strong commitment to India, and a shining example of the success of the Government's "Make in India" program", Samsung India CEO HC Hong said in a release tied to the news. The present mobile phone manufacturing unit was added in 2005.

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. "I hope smartphones produced by this plant are exported to more countries, strengthening cooperation between other countries", Moon said.

The new factory is part of a $700 million expansion plan.

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India's smartphone market grew 14 per cent with total shipments of 124 million units in 2017, the fastest pace of growth among the top 20 markets, according to International Data Corp.

One of the first electronics manufacturing facilities set up in the country in the early 1990s, the plant started by manufacturing TVs in 1997.

By 2012, Samsung became the market leader in mobile phones in the country and the Noida facility rolled out the first-ever "Galaxy S3" device.

PM Narendra Modi along with UP CM Yogi Adityanath and President Moon Jae-In.

The South Korean President was accompanied by senior members of his cabinet, officials as well as industry captains.

With this visit, relatioins between India and South Korea will not only reach new height but Make In India & skill India will also get a major Boost.

Moon was received here by Minister of State for External Affairs VK Singh, ministry spokesperson Raveesh Kumar said.

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