Samsung opens world’s biggest cellphone factory in world’s fastest-growing market — India
New Delhi/Bangalore — Samsung Electronics will on Monday open the world’s largest cellphone factory in India, in a win for Prime Minister Narendra Modi’s flagship programme to lure investors to manufacture in the country. The factory will be inaugurated by Modi and South Korean President Moon Jae-in at 5pm local time on Monday. Both leaders are visiting the facility near New Delhi, according to India’s ministry of external affairs. Smartphone makers including China’s Xiaomi and Oppo Mobiles are building factories in the world’s fastest-growing market for the product, bolstering Modi’s push to encourage overseas investors to "Make in India". Asia’s third-largest economy attracted record foreign direct investment in the past year with inflows totalling $62bn. "The opportunity is just massive," said Faisal Kawoosa, who heads new initiatives at researcher CMR. "Such a large facility will help Samsung cater to the huge demand in a country of 1.3-billion people where there are only 425-mi...
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