On April 20, Monday, the Chairman of Samsung Lee-Jae Yong shared a selfie taken with Prime Minister Narendra Modi and the President of South Korea Lee Jae Myung. The highlight of the picture is, it was clicked in a Made in India phone. This reflects the growing potential of India as a key manufacturing destination that produces state-of-the-art electronic gadgets. The photograph was captured using Samsung’s latest foldable smart phone which is manufactured at the company’s key production unit in India.
The selfie also highlighted how partnership between India and South Korea in terms of technology transfer and co-production can yield state-of-the-art products. The picture was clicked by the Chairman of Samsung Lee-Jae Yong during a lunch hosted by Prime Minister Modi. The latest version of the phone in which the selfie was clicked is Samsung Galaxy Z Flip 7, which is manufactured at the company’s production unit in Noida. The manufacturing unit is one of the flagship establishments of Samsung, which has been producing Samsung Electronics and other state-of-the-art devices since 1996.
Samsung also has manufacturing units in Chennai and Bengaluru. In the Chennai unit, Samsung manufactures televisions and other home appliances. In Bengaluru, Samsung operates a research and development centre. The vast manufacturing scale operated by Samsung in India, that produces even cutting-edge devices also aligns with the Make-in-India vision of India. It also reflects the Atmanirbharata or self-reliance potential of India. South Korea has a sound R&D ecosystem, cutting edge technological expertise etc. On the other hand, India has vast potential of skilled manpower, Production-linked incentives, credible policy vision and other credentials vital to setup large scale production units.
In this direction, strong partnership between India and South Korea helps to nurture a solid manufacturing hub and resilient supply chain. With this vision, in the latest visit of the President of South Korea Lee Jae Myung to India, a large business delegation including the CEOs of Samsung, LG and other world class companies have been accompanied. The aim is to foster business-to-business partnership to foresee bilateral benefit. Eve during the bilateral meeting between Prime Minister Modi & his South Korean counterpart Lee Jae Myung on April 20, Memorandum of Understanding MoUs were inked to strengthen industrial cooperation, critical technology transfer, investment in advanced manufacturing technologies, promotion of startup and innovation etc. which cumulates with the Make-in-India goal of the country.
