Samsung Electronics Vice Chairman Lee Jae-yong made his second business trip to India this year to inspect the local business situation and meet with local business executives.
According to South Korean media "newsis", Lee Jae-yong arrived in Mumbai, India on the afternoon of the 6th to listen to the mobile business report from local legal persons and related persons. On the other hand, he also gained an in-depth understanding of India's tariff policy. Recently, the Indian government abolished tariffs on core parts of TVs in order to attract foreign investment.
The report also said Lee plans to meet with Mukesh Ambani, president of global conglomerate Reliance Industries, whose telecom company Jio has chosen Samsung Electronics as its 4G communications equipment supplier.
If calculated on a single country basis, Reliance Industries owns the world's largest 4G network and has recently begun to develop 5G communications. Therefore, many Korean media outlets, including Yonhap News Agency and Korea Economic Daily, have pointed out that the exchange between the two companies is expected to promote technological cooperation.
This is Lee Jae-yong's second visit to India this year, following his visit in March. Financial insiders said that Lee Jae-yong may meet with Indian Prime Minister Narendra Modi this time. His two visits to India this year show that Samsung attaches great importance to the Indian market.
Samsung Electronics officially stated that it could not publicly confirm this matter.
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