Noida, July 9: Prime Minister Narendra Modi along with South Korean President Moon Jae-in inaugurated the new 35-acre Samsung Electronics facility at Sector 81 in Noida, Uttar Pradesh on Monday. Both the leaders were spotted in Delhi Metro, sharing a heart conversation while they were on their way to Noida.

During his address, the Prime Minister described the occasion as a special one, in the journey to make India a global manufacturing hub. He said the investment of about Rs. 5000 crore, would not only strengthen Samsung’s business links with India but is also significant in the context of the relationship between India and Korea.

"'GeM' means Government e Market and through this, the Government is now directly buying from producers. This is benefiting medium and small entrepreneurs. This has also brought transparency", Modi said. The Prime Minister said the government has always encouraged Samsung to manufacture here in India. He said almost every Indian house has a product made by Samsung.

"Whenever I talk to business community representatives I always mention one thing that I don't think there is a middle-class home in India where a Korean product is not found", Modi said.

The Prime Minister noted that digital technology is playing a key role in making the lives of the common man simpler, including through faster and more transparent service delivery. He spoke of the expansion of smartphones, broadband and data connectivity, which he described as signs of a digital revolution in India.

In his address, Modi said the ‘Make in India’ initiative is not just an economic policy measure, but also a resolve of better ties with friendly nations such as South Korea.

The South Korean president with First Lady Kim Jung-sook arrived in India on July 8 on a four-day visit. The president was welcomed by Minister of State for External Affairs Gen (retd) VK Singh on their arrival at Air Force Station in the national capital.

With its new facility in Uttar Pradesh, Samsung has put the tag of housing the world's largest mobile factory in Noida, taking it on top of the world manufacturing map when it comes to consumer electronics. Reports inform that 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.

According to IANS, one of the first electronics manufacturing facilities set up in the country in the early 1990s, the plant started by manufacturing TVs in 1997. The current mobile phone manufacturing unit was added in 2005.

(The above story first appeared on LatestLY on Jul 09, 2018 06:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).