New Delhi: South Korean tech giant Samsung will invest Rs 4,825 crore in Uttar Pradesh to move its mobile and IT display production unit from China to India, a UP government spokesperson said.
On its part, the UP government will provide special incentives to Samsung Display Noida Pvt Ltd for setting up the manufacturing unit in Noida, India Today reported.
“… [This] is in sync with the intent of the Centre to make an export hub in view of the ever-increasing demand of mobile and other gadgets in the country and abroad,” the spokesperson said.
The spokesperson added that the facility will be the first high-technique project of Samsung in India and the third such unit in the world.
According to a report by Business Today, the Noida unit is expected to generate direct employment for 510 people apart from indirect employment.
Samsung already has a mobile manufacturing unit in Noida, which was inaugurated by Prime Minister Narendra Modi in 2018.
Also Read: Startups vs Small Business, Why Is It Crucial To Understand The Difference?
