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Why Samsung opening 'world's biggest smartphone factory' in Noida is big news

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12.07.2018

On July 9, 2018, Samsung, opened the gates to the "world's biggest mobile manufacturing plant" in Noida.

With billions of dollars in investment, the promise of thousands of new jobs, and no less than Prime Minister Narendra Modi and South Korean President, Moon Jae-in joining hands to inaugurate the factory – even as Uttar Pradesh chief minister Yogi Adityanath and commerce and industry minister Suresh Prabhu patiently sat in attendance – the event turned out to be high on optics, as well as political significance.

Shortly after the inaugurating the 35-acre Noida manufacturing plant, PM Modi declared it as a major achievement for the government's flagship "Make in India" program and thanked "South Korea for its participation in creating employment opportunities in India."

Speaking about the possible impact of the factory which is expected to churn out 120 million mobile phones a year by 2020 – 30 per cent of which Samsung plans to export out of the country – the prime minister said: “Today is an important day in making India a global hub of manufacturing... This 50 billion-rupee investment will not only strengthen Samsung’s business ties in India, it will also play a key role in India-Korea relations."

But besides being a great endorsement for PM Modi's Make in India campaign, and the obvious political mileage that Modi sarkaar is set to derive out of it ahead of the Lok Sabha polls in 2019,........

© DailyO