Samsung factory in Noida | Samsung left China and came to Uttar Pradesh, display factory ready in Noida
Samsung factory ready in Noida
- Samsung’s investment in Noida is a great example of Make in India.
- With this, the youth of UP will get jobs in the state itself.
- India will also become the third country in the world in mobile display manufacturing.
Samsung, one of the world’s leading electronics companies, will now manufacture mobile and IT display products in Uttar Pradesh. The display factory of South Korea’s giant electronics company Samsung has been ready in Noida, Uttar Pradesh. Samsung’s Southwest Asia President and CEO Ken Kang on Sunday met UP CM Yogi Adityanath and the Chief Minister assured him of all possible help. During the meeting, CM Yogi said that Samsung’s Noida factory is a great example of the success of ‘Make in India’ programme. Through this, the youth of the state have been helped in providing employment in the state itself. He said that the state government is ready to provide all possible help to the manufacturing unit of Samsung. He assured the delegation that the Samsung Company would continue to be supported by the State Government.
Samsung’s delegation said that in view of the better industrial environment and investment friendly policies of Uttar Pradesh, Samsung Company has decided to set up China-based Display Manufacturing Unit (SDN) in Noida, the work of which has been completed. This shows the commitment towards India and towards making Uttar Pradesh a manufacturing hub.
This Samsung unit was earlier installed in China. With the establishment of this new manufacturing unit of Samsung, an investment of about Rs 4825 crore will be made in the state. Not only this, India will also become the third country in the world to manufacture mobile displays made with OLED technology. More than 70 percent of the world’s total display products used in TVs, mobile phones, tablets, watches, etc., are manufactured by Samsung in South Korea, Vietnam and China. The proposed investment of display units is a high cost high technology component of the original product, which will prove to be a milestone to complete the link between the supply chain and in the future for setting up of a display related fab unit in the state. . M/s Samsung is the largest exporter in Uttar Pradesh with exports of $27 billion in the last financial year. Samsung Group has set a total export target of $50 billion over the next five years.
Samsung will invest 4825 crores in UP
In view of the huge investment and industrial development, the Yogi government has decided to give a special impetus to this project of Samsung. The State Council of Ministers took a decision in this regard on Friday. According to the decision of the Council of Ministers, M/s Samsung Display Noida Private Limited will be allowed exemption in stamp duty on capital subsidy, land transfer under the ‘UP Electronics Manufacturing Policy-2017’. The cost of old machines will also be allowed in fixed capital investment as per the norms set by the Government of India for capital subsidy for this project coming to Uttar Pradesh after being displaced from China.
For this project, a financial outlay of Rs.250 crore is estimated on the state government over a period of 5 years. About one and a half thousand people will get direct employment in this unit. The company will also get a financial incentive of about Rs 460 crore under the Government of India’s scheme “Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors”.
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