New Delhi, 21 June 2021
Samsung Electronics was planning to set up its third manufacturing plant in India in Gujarat in 2015. India’s largest multinational company has started land acquisition in Uttar Pradesh, Tamil Nadu and Gujarat for a new plant to manufacture electronic goods including smartphones. But the company did not come to Gujarat and decided to set up a plant in Noida, Uttar Pradesh.
This is a big failure of the Vijay Rupani government of BJP in Gujarat.
The Korean giant also approached Gujarat and Tamil Nadu. The company had earlier signed a Memorandum of Understanding (MoU) with the UP government in January 2015 to expand its electronics and phone manufacturing plant in Noida with an investment of Rs 517 crore.
The world-famous Samsung has chosen India. Samsung is known for its display technology. The company has been operating its own display manufacturing scheme in China for years. However, Samsung has now brought its display production unit in India.
The Uttar Pradesh government had approved special incentives that resulted in the company investing Rs 4,825 crore in a Rs 4,825-crore project to move its mobile and IT display manufacturing unit from China to Noida. Will provide financial assistance of Rs 250 crores. The company will also get a financial incentive of Rs 460 crore under the central scheme.
Samsung alone accounts for over 70 percent of the total display products used in TVs, mobile phones, tablets and watches, among other gadgets, worldwide and has manufacturing facilities located in South Korea, Vietnam and China.
The company already has its own manufacturing plants in the city.
Samsung Southeast Asia President and CEO Ken Kang represented the team in a meeting with Uttar Pradesh CM Yogi Adityanath on Sunday, who felt the company has shifted the plant as the country has a favorable environment for investors. The display manufacturing unit in Noida will completely replace the plant in China.
We are different from ‘Make in India’ announced by Prime Minister Modi, which focuses on domestic businesses to reduce the import of products. Samsung will benefit from the whole measure. The delegation also revealed that Samsung is focusing on making Uttar Pradesh its manufacturing stronghold in future.
The company started manufacturing smartphone displays in India in April this year. However, now it will be done with a functional manufacturing unit for mass production.
This move will help in creating employment opportunities in India. Highlighting this matter, Chief Minister Yogi Adityanath has also said that the youth of the state will get employment opportunities by starting a new manufacturing unit. He further said that Samsung will continue to get the support of the state government in future also.
It is worth noting that tech giants like Samsung have invested heavily in the Indian market. It will provide employment opportunities to Indian youth, as well as prove to be a boon for the company’s economy.