On June 20, South Korean multinational conglomerate Samsung announced that it had completed the construction of a display manufacturing plant in Noida, Uttar Pradesh. The company has shifted the plant from China to India. A delegation of the company led by Ken Kang, Southwest Asia President & CEO, met Chief Minister Yogi Adityanath.
https://twitter.com/CMOfficeUP/status/1406626678474899458?ref_src=twsrc%5EtfwIn the official press note, the delegation said that Uttar Pradesh has a better industrial environment and investor-friendly policies. The company decided to establish the Display Manufacturing Unit here. The press note also mentioned that the construction work shows their commitment towards India and made UP a manufacturing hub.
‘A classic example of the success of Make in India’
During the meeting, CM Yogi Adityanath said that the Noida factor is a classic example of the success of the “Make In India” Program. The manufacturing unit will employ the youth in the state.
https://twitter.com/CMOfficeUP/status/1406851150716891144?ref_src=twsrc%5EtfwCM Yogi assured that the state government would extend help to the company in future as well. The delegation thanked CM Yogi for permission to continue industrial work during the pandemic.
The plant was announced in December 2020
In December 2020, Samsung had announced that it would shift its display manufacturing plant to Noida from China. Reports suggest that the new plant is the first high-technique project, which is being set up in India after relocating from China. The new project is likely to generate 1,500 direct employment and thousands of indirect jobs.
At that time, a spokesperson of the UP Government had said, “The unit intends to invest Rs 4,825 crore. It could be made possible by the sustained efforts of the UP government to create an eco-system in NCR in sync with the intent of the Centre to make an export hub in view of the ever-increasing demand for mobile and other gadgets in the country and abroad.”