Wednesday, 18 July, 2018

Moon touts Samsung's cooperation with Indian firms

Narendra Modi Noida now has the largest mobile factory in the world
Camille Neal | 10 July, 2018, 15:30

The facility will help Samsung double its current capacity for mobile phones in Noida to 12 crore units a year, in a phase-wise expansion that will be completed by 2020. The factory is also expected to provide at least 1,000 more local jobs.

Located in Noida, India, on the outskirts of New Delhi, the factory will almost double Samsung's Noida unit capacity from around 68 million units a year to 120 million annually according to a report from Bloomberg. "This is a great milestone in the history of Samsung India which will take our country's manufacturing abilities to newer heights", Asim Warsi, Global Vice President, Samsung India, told IANS on the sidelines of the event. "Altogether, over 400,000 people are working in those units and Samsung is spearheading this with a workforce of 70,000 people", Modi said.

A year ago in June, the consumer electronics major had announced that it would invest Rs 4,915 crore to double its manufacturing capacity for smartphones and refrigerators at its Noida plant.

Announcing the investment past year, the South Korean giant said that it would position the Noida plant as a major production hub and create about 5,000 new jobs.

Samsung's Noida plant, set up in 1996, has been manufacturing smartphones, refrigerators and flat-screen televisions.

He said that Samsung's investment of about Rs 5000 crore towards establishing the mobile facility is significant in the context of the relationship between India and Korea, and it would further strengthen the handset maker's business links with India.

U.S. senators on rare visit to Moscow ahead of Putin-Trump summit
Putin may start the summit with a meeting with Trump if Washington confirms that, Peskov told reporters on a conference call. However, he took issue with President Trump's statement that he planned to discuss Crimea with President Putin there.

"Now we need a turning point in our economic cooperation with India and Asean countries", Mr Kim said.

In order to boost people-to-people relations and travel between the two countries, India extended the visa-on-arrival (VoA) facility for South Korean tourists in April 2014. Apart from Noida, Samsung also has a factory in Sriperumbudur, near Chennai, five research and development centres and one design centre along with 1.5 lakh retail outlets and 3,000 customer service points. He spoke of the expansion of smartphones, broadband and data connectivity, which he described as signs of a digital revolution in India.

PM Narendra Modi along with UP CM Yogi Adityanath and President Moon Jae-In.

The Indian Express reported on May 21 that the government's proposed framework includes efforts to improve the ease of doing business for electronic manufacturers and address concerns such as cost of financing, logistics, and bringing the entire supply chain ecosystem of production to India.

"When India's young populations, geographical advantages and basic scientific capabilities are combined with Korea's manufacturing and cutting-edge IT technologies, this will lead to a successful partnership", Moon said in a congratulatory speech.

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

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