Samsung launches world's largest phone unit in India

New Delhi: Prime Minister Narendra Modi along with South Korean President Moon Jae-in on Monday inaugurated Samsung Electronics’ manufacturing unit in Noida that the company claims to be the world’s largest mobile phone manufacturing plant.

Speaking at the launch,  Modi went on to say that his pet ‘Make in India’ initiative has propelled India to become the world’s second-largest manufacturer of mobile phones as the number of factories soared to 120 from just two, four years ago.

Modi, who has been facing criticism for lack of job creation, claimed that four lakh direct jobs have been created as the number of factories making mobile phones increased.

He added that the government hopes trade and investment ties with economic powerhouses like South Korea will generate a large number of jobs, even as India is heading into elections next year.

PM Modi and President Moon — who began a four-day visit to India on Sunday evening — will hold delegation-level talks in the capital on Tuesday after which some pacts are expected to be inked between the two nations.

The South Korean side has already earmarked a whopping $10 billion as “financing arrangement for infrastructure development in India”.

PM Modi said 30 per cent of the phones manufactured at the factory, built at a cost of '5,000 crore, will be exported.

Stating that South Korean products can be found in almost all middle-class homes, he said Samsung is a world leader in the smartphone market, adding that Samsung had an R&D hub in India and now has a manufacturing base too.