Noida: Prime Minister Narendra Modi and South Korea president Moon Jae-in inaugurated a Samsung manufacturing facility - the largest in the world - here on Sunday. The ceremony was all about pomp and splendour, and was a show of strengthening economic ties between the two countries.
"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," said PM Modi at the inauguration event. "India is now the second largest mobile manufacturer in the world."
Both leaders also took a round of the factory which boasts of state-of-the-art features which would exponentially increase the number of phones manufactured by the Korean company here.
South Korean President Moon Jae-in and PM Narendra Modi inaugurate Samsung mobile factory in Noida-the world's largest mobile factory pic.twitter.com/9jwIXdxjXh
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Some of the key highlights of the new plant are:
* The plant is on a 35-acre land in Noida's Sector 81. Production first began here in 1997 when Samsung manufactured television sets.
* In June of last year, the company announced it was pumping in Rs 4,915 crore to expand the plant in order to double production.
* The expanded and modernised plant will help Samsung take its production of phones in the country from 67 million to 120 million.
* The company will also increase its production of consumer goods like television sets, fridges and air conditioners.
* With 10% of its overall production happening in India, Samsung reportedly plans to take the share up to 50% in the next three years.
* The plant will have around 70,000 employees.
(With IANS inputs)