PM Modi Allows Samsung to Open World’s Largest Smartphone Factory in India

Korean Electronics Giant Samsung is working for major expansion of it’s operations in India. On Monday, Samsung announced that it is opening the world’s largest smartphone factory in India.

Samsung expects to double its current capacity for smartphone production from 68 million units annually to 120 million units in 2020. The site for the world’s largest phone factory in India, is the Noida, near the outskirts of New Delhi.

Samsung to Open World’s Largest Smartphone Factory in India

It is to be expected that this facility will help Samsung build more cheap phones to make gains in India, a market dominated by the likes of Xiaomi and Lenovo’s Motorola unit.

PM Modi and the South Korean president traveled to Noida for the world’s largest smartphone factory launch on the Delhi Metro. Samsung announced RS. 5000 crore expansion plans at the company’s premise in the presence of PM. Modi.

PM Modi Said:

“This step today would lend pace to Make in India, apart from empowering citizens. This is matter of pride for Uttar Pradesh and India. Samsung has provided employment to approximately 70,000 people, the new plant will provide employment to 1000 more”

Currently, the Samsung overseas shipments from India are very low, but this world’s largest smartphone factory will give a boost to export plans.

According to a study by Cisco Systems, Last year, India overtook the US to become the world’s second-largest smartphone market after China. There will be 780 million connected smartphones in 2021, compared with 359 million in 2016.

Read Next: Apple is Betting on Old iPhones to Gain Market Share in India

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