Prime Minister Narendra Modi today said his government's pet "Make in India" initiative has propelled India to become the world's second-largest manufacturer of mobile phones as the number of factories soared to 120 from just 2 four years ago.
"The visit to India and Singapore by the head of state marks a move towards launching the New Southern Policy in earnest", Mr Kim Hyun-chong told reporters, referring to President Moon's key foreign policy that seeks to greatly enhance the country's relationship with India and 10 members of the Association of South-east Asian Nations (Asean).
"I have hopes to raise Korea-India relations to that with the four major powers surrounding Korea to match India's global standing", Moon said.
"We trust that with Korean technology and Indian manufacturing, we will produce the best products of the world", Prime Minister Modi said.
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New factory will double current capacity for mobile phones to an annual 120m units.
The South Korean President is on a three-day visit to India, having arrived in New Delhi on Sunday evening. Samsung has two manufacturing plants and five research and development centres in India. "Altogether, over 400,000 people are working in those units and Samsung is spearheading this with a workforce of 70,000 people".
Samsung is being viewed as perfectly positioned now to take full advantage of India's rapidly growing demand for smartphones. Samsung also informed that the factory has been made under PM Modi's ambitious plan, Make in India. I am delighted that Korean companies are taking part in this fast-paced India. Out of 120 mobile factories, 50 are in Noida only.
The two leaders travelled on the Delhi Metro to reach the inauguration ceremony, which was also attended by Uttar Pradesh chief minister Yogi Adityanath and senior Samsung officials. Both used tokens like everyday passengers and it was ensured that the movement of the train is not delayed due to the special visit.
This is President Moon's first-ever state visit to India after he took over as the President a year ago. Faisal Kawoosa, who leads new initiatives at researcher CMR Pvt, noted the country has a population of around 1.3 billion people but only 425 million are smartphone users.