Lee Jae-yong, vice chairman of Samsung Electronics, flew to India to meet with leading Indian business leaders and promote the company’s mobile business.
Lee visited Mumbai on Oct. 6 (local time), and was briefed on the status of Samsung’s mobile business from officials of Samsung Electronics India. Lee was also briefed on the Indian government’s abolition of tariffs on core parts for TVs, a measure intended to promote foreign investment into India.
Lee will meet with Mukesh Ambani, chairman of Reliance Industries, an India-based global company, during his visit to India. According to Hurun Report, a Chinese version of Forbes, Ambani is one of Asia's richest man with an estimated US$54 billion in wealth and has been the richest man in India for over the last 10 years.
Samsung Electronics was selected as a key equipment supplier for the 4G mobile network project pushed by Reliance Jio Infocomm Ltd., a subsidiary of the Reliance Industries Group. Reliance's 4G network is the world's largest for a single country. Samsung and Reliance are also promoting cooperation in 5G network. Lee is expected to have a deep discussion on 5G mobile services with Ambani during this meeting. Established in September 2016, Reliance Jio has emerged as the largest telecom company in India.
Lee visited India in about seven months after attending a wedding ceremony for a son of chairman Ambani in March. Lee also attended his daughter's wedding last December. This past February, Lee met with Indian Prime Minister Narendra Modi when he visited Korea. Lee may meet with Modi during his visit to India this time.
"Lee met with Ambani three times -- in December of last year and March, and October of this year. This reflects how important the Indian mobile market is for Samsung," an industry official said.