Samsung kicks off world's largest mobile production plant in Noida

Ruben Fields
July 9, 2018

The South Korean President, who is on a four-day visit to India, was accompanied by first lady Kim Jung-sook, senior members of his cabinet, officials as well as industry captains. He will also meet President Ram Nath Kovind.

Prime Minister Narendra Modi visited South Korea in 2015 during which the bilateral partnership was elevated to a special strategic partnership.

Prime Minister Narendra Modi's government has imposed taxes on imports of key smartphone components as part of a plan to encourage electronics manufacturing in India which would boost growth and create millions of new jobs.

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South Korean president Moon Jae-in arrived on Sunday and a revised Comprehensive Economic Partnership Agreement (CEPA) is expected to be signed on Monday. Union Minister Prabhu says, "Trade and commerce will play their own roles in taking bilateral relations between both the countries forward".

#11:05 AM: EAM Sushma Swaraj meets South Korean President Moon Jae-in: "Shared commitment to values of democracy, open society & liberal worldwide order!" After meeting with Swaraj, he will address India - Korea Business Forum at around 3 PM. India attracted the highest ever foreign direct investment in the past year with inflows totalling US$62 billion. But the South Korea firm pulled out of the project last year, after waiting for 12 years for clearances and being caught up in public resistance to the project.

While Modi's "Make in India" campaign is still a long way from delivering on ambitious job promises, the program has had some success with the phased manufacturing of mobile devices and components. "But I think that has been left behind with South Korean investments worth $600 million coming in previous year", Prakash said pointing at firms like carmaker Kia and Samsung announcing fresh investments in India in recognition of the Indian market and the buying power of the urban middle class. India is also not likely to get the status of "native English speaking nation", though South Korea has accorded this to some other countries, including South Africa.

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