Prime Minister Narendra Modi and South Korean President Moon Jae-In will today inaugurate Samsung India’s new manufacturing facility at sector 81, Noida. The new facility will reportedly be the world’s largest mobile phone manufacturing facility with the capacity of shelling out 120 million mobile phones a year.
The new Samsung factory is spread across 35 acres adjacent to an already existing Samsung facility in the area. In June last year, Samsung had reportedly announced Rs 4915 crore investment to expand its Noida facility and just after a year it has completed the work. The new factory is expected to catapult Samsung’s annual phone production figures in India from 67 million units annually to 120 million units annually.
Uttar Pradesh Chief Minister Yogi Adityanath will accompany PM Modi and president Moon Jae-in for today’s inauguration event.
— CM Office, GoUP (@CMOfficeUP) July 9, 2018
The existing Samsung plant was started in 1997, it was one of India’s first electronics manufacturing facilities and used to produce TVs. Samsung reportedly has 2 manufacturing plants in India, one in Noida and another in Sriperumbudur, Tamil Nadu. Samsung is a market leader in mobile phone and consumer electronic goods segments and the Noida plant will also manufacture other electronic products like TVs, refrigerators and is expected to provide employment to thousands of people adding further to its already 70,000 strong employee count in the country.
The new Noida plant by Samsung is being considered as a major boost to the Make In India initiative started by PM Modi. South Korean President Moon Jae-in has arrived in New Delhi yesterday on a 4-day visit.
— The Office of President Moon Jae-in (@TheBlueHouseENG) July 8, 2018
UP CM Yogi Adityanath has been committed to his government’s efforts to bring in foreign investment to India’s most populous state to generate employment. Under his leadership UP had organised investor’s summit in February 2018 where leading business houses of India and the world had promised investments worth Rs 4.28 lakh crores. CM Yogi has always maintained that Uttar Pradesh has huge potential for industry and employment generation.