Friday, April 23, 2021

Make in India Project Gets Big Boosts from Modi’s “Hugplomacy” with South Korea

Make in India Project, as envisaged by PM Narendra Modi is attracting South Korea to invest big in India. Under the Make in India programme, India-South Korea are bolstering their ties to exploit all leverages that the digital age brings along with it. Samsung’s largest mobile factory launched in Noida is the premier example of this, which was inaugurated by PM Modi and the South Korean President, Moon Jae-In. 

Through the ‘world’s largest mobile factory’ set up in Noida, Samsung looks to multiply its production of smartphones given the soaring demand for smartphones in the Indian market. World’s largest mobile factory being set up in India is indeed a big win for Narendra Modi’s Make in India vision. India has more than 300 million smartphone users which makes it the second largest smartphone market in the world after China.

The factory expands through a large area of 32 acres which has been set up on the outskirts of Delhi. Samsung hopes to double its mobile production in India after the setting up of this factory. As of now, Samsung produces 68 million mobile units each year and now after this factory becoming a reality the tech-giant plans to hike production so that it reaches 120 million mobile units in 2020. The expansion of this plant was announced by Samsung last year when it committed an investment of $715 million in India.

Samsung vs Xiaomi Bringing out the Best in Samsung

Samsung was the top mobile seller in India 6 months ago but then in an interesting turn of events, it was surpassed by Chinese company Xiaomi. The cheaper devices of Xiaomi has made the brand highly popular in India and have scripted its fairytale success story. Xiaomi too is speeding up its production in India and now has six factories.
To claim its top spot again, Samsung has a tough competitor in Xiaomi and this Noida factory might just be the perfect launch pad for its comeback to the top.

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