Prime Minister Narendra Modi at the inauguration ceremony of the ‘world’s biggest cell phone factory’ in India on Monday, July 9, said that India is the 2nd largest mobile phone producer in the world and the absolute share of this massive development goes to ‘Make-In- India’ campaign, which his government commenced 4 years ago. His remarks came after the launch of biggest mobile factory in Noida by PM Modi and South Korean President Moon Jae-in.

The unit is expected to have a capacity to produce 120 million phones a year. At the event, further added that at least 40 crore Indians own smartphones, out of which 32 crore people use broadband.

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According to a report published by the Indian Express, Samsung aims to manufacture at least 1 crore phones per month by 2020, out of which 30% of the cell phones will be exported from India to other markets and as per other media reports the firm has been manufacturing mobile phones in India since 2007.

PM at the launch also pointed it out that Samsung has provided employment to nearly 70,000 people, and the new plant will provide jobs to 1000 more. Praising the success of the Make in India Initiative PM further said that this step would lend pace to Make-in-India besides empowering citizens.

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Although the firm is expected to transcend it manufacturing facility in India, the prices of the smart phones are unlikely to go down. According to Upasana Joshi, Associate Research Manager at IDC India. There will not be much impact on prices as there were no price increases earlier also post the duty hikes came in place.