With Modi having introduced a tax on the import of certain smartphone components into India, it makes a great deal of financial sense for Samsung to produce its handsets within the country. "Mobile manufacturing in India has been [riding] on the shoulders of Chinese brands of late, but the expansion of a brand like Samsung will send a very positive message across the globe. If our two countries can pool our efforts to succeed in lunar exploration, we will bring much hopes and dreams to our people", he said.
The new updated and enhanced facility will also manufacture refrigerators and flat panel televisions, and help Samsung to make further inroads into the electronics market of India. 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.
Speaking at the opening of the world's largest mobile phone manufacturing facility on the outskirts of the national capital Delhi, Modi said four lakh direct jobs have been created as the number of factories making mobile phones increased. Out of 120 mobile factories, 50 are in Noida only.
"Though we may have opened the doors to the markets with the Korea-Asean free trade agreement and Korea-India Comprehensive Economic Partnership Agreement, there may be difficulties in supplying our companies' products unless there is an adequate distribution network in those markets", he said.
In the smartphone segment, Xiaomi maintained its lead in the first quarter with a record 31% market share followed by Samsung (26%), vivo (6%), OPPO (6%), and Honor (3%). In photos tweeted by PM Modi, the two leaders were seen chatting on the metro, the Akshardham temple visible in the window behind them.
"They travelled using tokens with others passengers and there was no delay in the Blue Line due to this", the official said.
"I feel proud as an Indian today". "Such a large facility will help Samsung cater to the huge demand in a country of 1.3 billion people where there are only 425 million smartphone users".