Image Credit: cnbctv18.com
In a significant development, the South Korean tech conglomerate Samsung has shifted a display manufacturing unit from China to the city of Noida in Uttar Pradesh, according to a report by the news agency PTI. The construction of the display unit in Noida has been completed, Samsung said on Sunday in a press release.
On Sunday, a delegation of Samsung officials headed by Ken Kang, CEO and Southwest Asia President of the Seoul-based company met the Chief Minister of Uttar Pradesh Yogi Adityanath. The officials credited investor-friendly policies and a better environment for industries as the reason behind the company’s decision to shift its unit from China to the city of Noida. It informed the CM that construction work for the establishment of the factory had already been completed.
The delegation said that that the shifting of the display manufacturing unit to the state shows the commitment the company accords towards making India and the state of Uttar Pradesh a hub of manufacturing.
Chief Minister Yogi Aditynath called Samsung’s decision to build its manufacturing unit in Noida a success of the Modi government’s ‘Make in India’ initiative. The move will benefit the youth of Uttar Pradesh in getting employed within the state, he added in his talks with the delegation. On part of the state government, Adityanath also assured Samsung of granting all possible support to the company in future.
Earlier, in the previous week, Samsung was in the news in the country after it opted out of participating in the Production Linked Incentive scheme for telecom equipment.