A big blow to China: Samsung to shift its China factory to India

This is the first high-technique project of the South Korean multinational major which is being set up in India after relocating from China

NEW DELHI:South Korean Smartphone giant Samsung will intend to invest Rs 4,825 crore in India.Samsung will get stamp duty exemption in the transfer of land as per the 'UP Electronics Manufacturing Policy 2017'. It will also receive a financial incentive amounting to Rs 460 crore under the Government of India's Scheme for Promotion of Manufacturing Electronic Components and Semiconductors.

According to the government release “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 because of the ever-increasing demand of mobile and other gadgets in the country and abroad.”This is the first high-technique project of the South Korean multinational major which is being set up in India after relocating from China and the country will become third in the world to have such a unit, the Uttar Pradesh government said.

Uttar Pradesh has decided to give ‘special incentives’ to “Samsung Display Noida Private Limited” for setting up a manufacturing unit of mobile and IT display products in the state.Last year Samsung inaugurated its world's largest mobile factory in Noida, near the Indian capital.

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