Moon arrived in New Delhi on Sunday on a four-day visit to India.
The Prime Minister noted that India now ranks second, globally, in the manufacture of mobile phones, with the number of mobile phone manufacturing factories rising from just 2, to 120, in about four years' time. "We "Make in India", "Make for India" and now, we will "Make for the World", said HC Hong, Chief Executive Officer, Samsung India. The expansion of Samsung's Noida facility - one of two manufacturing plants in the country - will help Samsung increase its phone production by nearly double.
"Almost every middle class Indian family is using at least one Korean product".
Right now, Samsung manufacturers 67 million smartphones in India.
Modi will be pleased with the opening too because he has been encouraging firms to set up factories in the country in order to boost domestic manufacturing.
In June last year, the South Korean giant announced a Rs 4,915 crore investment to expand the Noida plant and, after a year, the new facility is ready to double production.
PM Modi along with South Korean president Moon Jae-in will be inaugurating the facility in Noida at 5 pm Monday.
South Korea will also help finance major infrastructure projects in India and the 10 Asean countries. In this context, he also spoke of the Government e-Marketplace (GeM), growth of digital transactions, BHIM App, and RuPay cards. Today, Samsung is the market leader across mobile segments.
The prime minister said India has 40 crore smartphones in use and 32 crore people using the broadband internet. "Fibre network is reaching rural areas", he said.
Demand for new mobile phones is surging in India, helped in part by billionaire Mukesh Ambani offering US$23 4G feature phones, free voice services and cheap data plans. "Apart from this, the company can also bring in export opportunity for Samsung to SAARC and other regions", Pathak told IANS.
Following this, Prime Minister Modi will then hold official talks with President Moon at Hyderabad House, which will be followed by an official lunch.
Thereafter, the two leaders took a ride on the Delhi Metro to visit the new Samsung facility in Noida.
This is Moon's first-ever state visit to India after he took over as the President past year.
"I feel proud as an Indian today".