BUSINESS

Samsung to make India a global export hub: Modi

Modi

Noida, July 9: South Korean tech giant Samsung’s largest global mobile factory in Noida will not only generate more jobs but also make India a global export hub, Prime Minister Narendra Modi said on Monday.

Inaugurating the new facility spread over 129,000 sq metres at Sector 81 here, Modi said Samsung will export 30 per cent of the handsets made in Noida to other markets.

“India is currently second in terms of phone manufacturing. Out of 120 mobile factories, 50 are in Noida only. Altogether, over 400,000 people are working in those units and Samsung is spearheading this with a workforce of 70,000 people. “The new facility with give direct jobs to 1,000 people, taking the existing workforce at this plant to 6,000. The best part is that the company will export 30 per cent of the handsets made here to other markets,” Modi told the gathering here.

He said the new mobile manufacturing unit will make India-South Korea relations stronger as Samsung’s biggest global R&D was already here.

“Almost every middle-class Indian family is using at least one Korean product. Samsung has a distinct space in India. India is going through digital transformation and I encourage more companies from South Korea to come and invest here,” the Prime Minister noted. Launched in the presence of Modi and South Korean President Moon Jae-in who took the Metro to reach the facility, the plant will help Samsung India double its annual mobile production capacity to 120 million units by 2020.

All Samsung mobile phones, including the flagship Galaxy S9, S9+ and Galaxy Note 8, are being manufactured at the Noida plant. “We are aligned with government policies and will continue to seek their support to achieve our dream of making India a global export hub for mobile phones,” said HC Hong, Chief Executive Officer, Samsung India. (IANS)