"Almost every middle class Indian family is using at least one Korean product".
"This INR50-billion investment will not only strengthen Samsung's business ties in India, it will also play a key role in India-Korea relations", Modi said in a speech at the inauguration of the plant.
Last year, Samsung announced budget of Rs 4915 crore to expand the phone manufacturing factory, and now, the plant is ready to manufacture nearly every model of Samsung.
While Modi's flagship "Make in India" campaign is still a long way from delivering on ambitious job promises, the program has had some success with the phased manufacturing of mobiledevices and components.
With this visit, relatioins between India and South Korea will not only reach new height but Make In India & skill India will also get a major Boost.
Speaking on the occasion, Korean President Moon Jae In said Korean companies are taking part in the fast-paced growth of India and plant like the Samsung factory will create more jobs for Indian people.
"Samsung is a world leader in technology today".
Mr. Modi pointed out that India is heading towards a digital revolution and now, 40 crore people are using smartphones in the country. Internet data is available for cheap.
"We are aligned with government policies and will continue to seek their support to achieve our dream of making India a global export hub for mobile phones", H C Hong, Chief Executive Officer, Samsung India, said. More than 120 local factories now assemble mobile phones and accessories like chargers, batteries, powerbanks and earphones in India, according to tech research firm Counterpoint. It will be officially inaugrated today by India's Prime Minister Narendra Modi and South Korean PresidentMoon.
A DMRC spokesman said the leaders boarded a Metro train at Mandi House station at around 4:36 pm and travelled up to Botanical Garden station on the Blue Line. Both used tokens like everyday passengers and it was ensured that the movement of the train is not delayed due to the special visit.
Following the meeting with the Indian exterior minister, Moon visited Gandhi Smriti, a museum dedicated to Mahatma Gandhi, accompanied by Modi.
The move led to a series of apparent economic retaliations from China, the world's single largest importer of South Korean goods, which inevitably left a crippling dent on the Korean economy, from which many Koreans believe the country has yet to fully recover.