South Korean Electronics Giant recently made an announcement that the company will open a new smartphone display plant in Uttar Pradesh’s Noida. The plant will be similar to the one in China.
Samsung is planning to invest Rs 5400 crores on the project. It will be creating a state of art production house for smartphone display. The company has signed a Memorandum of Understanding (MOU) with the Uttar Pradesh government. This will be creating 1300 new jobs and the plant will be operational by 2021.
The letter by Invest India to UP Govt said, “We are submitting our recommendations to incentivise setup of HiTech industries in Uttar Pradesh and facilitate a key investor – Samsung Display in relocating its operations to India.”
Deccan Herald reported that "Samsung could benefit from higher capital incentives on the overall investment over a 20-year-period, including reimbursement of spending on IT infrastructure.”
Satish Mahana, Uttar Pradesh’s minister for industrial development has told the media that the Govt is considering the request for tax rebates by Samsung, and the final decision will be taken soon.
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