Following this, Prime Minister Modi will then hold official talks with President Moon at Hyderabad House, which will be followed by an official lunch.
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. The company started producing refrigerators at the plant in 2003 while mobile phone production started in 2007.
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Samsung's Galaxy S9, S9+, and Note 8 are all produced out of the existing Noida facility, with the tech giant also operating a factory in Sriperumbudur, near Chennai, along with five research and development (R&D) centres and one design centre in India.
"Now we need a turning point in our economic cooperation with India and Asean countries", Mr Kim said. The 30 per cent phones that would be exported, will help place the country in the Global market, he added. More than 10 percent of its total production now takes place in India - but that figure could rise to 50 percent within the next three years if everything goes to plan.
"This is an important step towards making India a manufacturing hub", the prime minister said of the USD$750 million factory investment. He claimed that the factory will provide 35,000 jobs directly and indirectly, and the state government will ensure that the unit got the proper infrastructure it needed.
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Samsung has been enjoying a feast in the smartphone market, especially in India, where it has the tag of highest selling mobile brand, after Xiaomi.
Samsung has played a key role in generating employment in India with over 70,000 people. "We "Make in India", "Make for India" and now, we will "Make for the World", said HC Hong, Chief Executive Officer, Samsung India.
"Samsung is a world leader in technology today". India is a big opportunity across price segments, including 2G feature phones. A bigger manufacturing plant, spread over 129000 sq. metres, will help Samsung meet the growing demand.
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