South Korean electronics manufacturer Samsung inaugurated the world’s largest mobile phone factory in India. According to Samsung it will double its annual handset production capacity to 120 million units by 2020.
The facility was inaugurated jointly by Prime Minister Narendra Modi and South Korean President Moon Jae-in. The mega factory is in Sector 81, Noida, Uttar Pradesh.
Chief Minister of Uttar Pradesh Yogi Adityanath and Union Culture Minister Mahesh Sharma were present at the event.
In this occasion, Prime Minister Narendra Modi declared that India has emerged as the second-largest mobile phone producer in the world, thanks to the ‘Make in India’ initiative his government started four years ago.
The company wants to manufacture at least 1 crore phones per month by 2020, as part of a road-map to export 30 percent of mobile phones from India to other markets. The manufacturing plant spread over 129,000 sq meters
The Samsung’s new unit is also expected to create new employment for more than 5000 people.
Appreciating the role of Korea in technological innovations, he 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 also said that today’s launch will help citizens and boost the Make in India initiative.
With the world’s largest mobile phone factory in India Samsung will boost the production of their products. The company currently has over 10 percent of its overall production in India and aims to take it to 50 percent over the next three years.