PM Modi Opens World's Largest Cellphone Factory Near Delhi
NOIDA: The world's biggest mobile factory was launched in Noida near Delhi on Monday by Prime Minister Narendra Modi and South Korean President Moon Jae. The unit will manufacture one crore phones a month, 70 per cent of which will be earmarked for domestic usage.
Already 40 crore Indians own smartphones, 32 crore people use broadband, the Prime Minister said in his address at the event. The 30 per cent phones that would be exported, will help place the country in the Global market, he added.
"This step today would lend pace to Make in India, apart from empowering citizens... This is matter of pride for Uttar Pradesh and India," said the Prime Minister, who has been pushing foreign firms to set up plants in the country.
PM Modi and the South Korean president travelled to Noida for the Samsung factory launch on the Delhi Metro. In photos tweeted by PM Modi, the two leaders were seen chatting on the metro, the Akshardham temple visible in the window behind them.
The new Samsung factory will have the capacity to fabricate 120 million smartphones per year, and make everything from low-end smartphones that cost under $100 to the company's flagship S9 model.
Last year, India overtook the US to become the world's second-largest smartphone market after China. There will be 780 million connected smartphones in 2021, compared with 359 million in 2016, according to a study by Cisco Systems.
courtesy : ndtv.com
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
SC orders liquidation of grounded air carrier Jet Airways' assets
New Delhi (PTI): The Supreme Court on Thursday exercised its extraordinary constitutional powers and ordered the liquidation of grounded air carrier Jet Airways' assets.
A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra set aside the National Company Law Appellate Tribunal (NCLAT) decision upholding the resolution plan of Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC).
Pronouncing the judgement for the bench, Justice Pardiwala allowed the plea of SBI and other creditors against the NCLAT decision that upheld the resolution plan of Jet Airways in favour of JKC.
It said the liquidation of the air carrier was in the interest of creditors, workers and other stakeholders.
The bench rapped NCLAT for its decision.
The top court used its powers under Article 142 of the Constitution which gives it the power to make orders and decrees to ensure complete justice in any matter or cause pending before it.
The NCLAT on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownership to JKC. The SBI, Punjab National Bank (PNB) and JC Flowers Asset Reconstruction Private Limited have challenged the NCLAT verdict.
