South Korean President Moon Jae-in and Indian Prime Minister Narendra Modi formally opened the company’s expanded manufacturing plant in Nodia, outside New Delhi, on Monday.
The plant will allow the South Korean firm to nearly double the number of smartphones it makes in India every year from 68 million to 120 million by 2020. Samsung announced the expansion of its plant a year ago as part of a $715 million investment in India.
Samsung India CEO HC Hong described the factory as a “symbol of Samsung’s strong commitment to India and a shining example of the success of the government’s ‘Make in India’ program,” referring to Modi’s initiative to encourage global companies to invest in manufacturing operations in the country.
India has more than 300 million smartphone users, making it the world’s second-largest market for the devices behind China. Samsung hopes the smartphones it makes in India will be sold locally and in other markets around the world.