"India-Republic of Korea (RoK) relations has made great strides in recent years and has become truly multidimensional, spurred by a significant convergence of interests, mutual goodwill and high level exchanges", the Ministry of External Affairs had said in a statement. 35,000 new jobs would be generated due to this new factory.
South Korean President Moon Jae-in on Monday said he was committed to raising South Korea's relations with India to the level of those with China, Japan, Russia and the USA, as he sought to expand cooperation in areas such as shipbuilding, aerospace, manufacture of medical devices and food processing.
India's Prime Minister Narendra Modi and South Korea's President Moon Jae-in take a tour inside the Samsung Electronics smartphone manufacturing facility after it's inauguration in Noida, India, July 9, 2018.
Modi said Samsung acquired an important position in the daily lives of the people of India.
He stressed that over one crore mobile phones would be manufactured in the new Samsung facility, which will give a boost to the country's economy, adding that with the help of South Korea's technological expertise and India's manufacturing expertise, both the countries' economies would be empowered. He added the Samsung unit will export its products globally.
Samsung Electronics has formally opened a new factory in India, which the South Korean tech group says is the world's biggest mobile phone manufacturing plant, part of its plans to expand production in the world's fastest-growing major mobile phone market. He spoke of the expansion of smartphones, broadband and data connectivity, which he described as signs of a digital revolution in India. "Fibre network is reaching rural areas", he said. According to Counterpoint Research, Samsung's share in smartphone shipments rose marginally to 26.2 per cent during January-March this year, compared with 25.9 per cent same period last year.More news: England Striker Rashford Continues Training With Team Ahead of Match Against Tunisia
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Yogi Adityanath, Uttar Pradesh chief minister said that the state government has provided all necessary support to Samsung in establishing the new facility. Praising the success of the Make in India Initiative PM further said that this step would lend pace to Make-in-India besides empowering citizens.
The prime minister's office (PMO) tweeted a picture of the two leaders travelling on the Delhi Metro.
On Sunday, president Moon arrived in India on a three-day visit.
"I feel proud as an Indian today".
Samsung has also been populating printed circuit boards (PCB) right from its inception, whereas its Chinese rivals have started the PCB assembly just after the Indian government imposed a 10% duty on imports of populated printed circuit boards (PCBs), camera modules and connectors, making the imports of the components expensive while giving a stimulus to local manufacturing under its Make in India program.