India's smartphone market grew 14 per cent with total shipments of 124 million units a year ago, the fastest pace of growth among the world's top 20 markets, according to technology research firm IDC.
The factory, built by South Korean phone maker Samsung Electronics, will have the capacity to fabricate 120 million smartphones per year and make everything from low-end smartphones to the company's flagship S9 model.
Prime Minister Narendra Modi and South Korean President Moon Jae-in will visit Noida today will inaugurate the New Mobile Manufacturing Plant of Samsung at Noida. It was meant to double the production capacity of both mobile phones and refrigerators. The 35-acre facility will reduce time to market and give Samsung more elbow room to export to neighboring regions - ultimately giving Samsung a leg up on its competitors.
The PM added the number of manufacturing factories in mobiles had gone up to 120 from just two since 2014. The current mobile phone manufacturing unit was added in 2005.
Samsung Electronics on Monday announced the opening of what it said is the world's biggest mobile phone manufacturing facility as the South Korean tech group seeks to expand production in the world's fastest growing major mobile phone market.
He said the plant and what it represents for the two countries will go down in the history of bilateral relations of India and Korea.More news: Fallout 76 Will Stop Players Under Level 5 Being Killed in PvP
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In 2012, Samsung became the leader in mobile phones in the country and the Noida facility rolled out the first-ever "Galaxy S3" device.
Moon arrived in New Delhi on Sunday on a four-day visit to India.
President Moon Jae-in said the new facility will create a new era for India-Korea ties. "2,000 new jobs will be generated in this plant", he said.
Samsung said last year it would spend 49.2 billion rupees ($716.57 million) over three years to expand capacity at its Noida plant.
India, the report said, was emerging as a key economic partner for Korea, with its huge market whose importance would only increase as South Korea tried to reduce its reliance in its two biggest trading partners, China and the US. Seoul's presidential office also said that Moon briefed Swaraj on the idea of "partnership for people, mutual prosperity and peace" that he plans to present to Indian Prime Minister Narendra Modi during their summit scheduled for Tuesday.
70,000 employees are now working for Samsung, and they are looking forward to expand their offline presence to 1.5 lakh retail outlets. He spoke of the expansion of smartphones, broadband and data connectivity, which he described as signs of a digital revolution in India.