South Korea’s giant electronics company Samsung has set up a display factory in Noida, Uttar Pradesh.
This factory was moved from China to Noida last year.
Samsung’s Southwest Asia President and CEO Ken Kang met UP CM Yogi Adityanath on Sunday.
Samsung said in a statement, “Due to the better industrial environment and investor friendly policies of Uttar Pradesh, Samsung has decided to move its manufacturing unit from China to Noida.”
Now the work of setting it up in Noida has been completed. This reflects Samsung’s commitment to making India and UP a manufacturing hub.
During the meeting with the UP CM, the Samsung delegation described it as a great example of ‘Make in India’ and said that it would help the youth of the state to get employment in the state.
Chief Minister Adityanath assured the delegation that the state government would continue to help the company in the future.
Samsung, one of the world’s leading IT companies, will now manufacture mobile and IT display products in Uttar Pradesh.
This unit of Samsung was earlier installed in China. About Rs 4,825 crore will be invested in the state due to the establishment of this new manufacturing unit of Samsung.
Not only this, India will also become the third country in the world to manufacture mobile displays made with OLED technology.
In view of the huge investment and industrial development, the Yogi government had decided to give special impetus to this project of Samsung.
It is worth noting that Samsung is the largest exporter in Uttar Pradesh with exports of around $27 billion.
Samsung Group has set a total export target of $50 billion over the next five years.
News Source: BusinessToday
