Make In India: After Investing Rs 4,825 Crore, Samsung Begins Production Of Mobile Display Panels At Its Noida Factory

Make In India: After Investing Rs 4,825 Crore, Samsung Begins Production Of Mobile Display Panels At Its Noida FactoryPM Modi at Samsung’s plant in Noida (Representative Image) (@MEAIndia/Twitter)

In a big boost for Make in India, South Korean technology major Samsung has begun the production of mobile display panels at its factory in Uttar Pradesh (UP)'s Noida, reports Economic Times.

While the move will result in significant value addition and give a boost to the local manufacturing, the company is now set to further ramp up the production to also manufacture IT display panels in India.

It should be noted that for the project, Uttar Pradesh government approved special incentives as a result of which the company has invested Rs 4,825 crore to relocate its mobile and IT display manufacturing unit from China to Noida.

The incentives includes financial provisioning of Rs 250 crore from the State government for five years. Other than this, the company will also get a financial incentive of Rs 460 crore under the Centre’s Scheme for Promotion of Manufacturing Electronic Components and Semiconductors.

Samsung alone makes more than 70 per cent of the total display products used across the world in TVs, mobile phones, tablets and watches, among other gadgets and its production facilites are located in South Korea, Vietnam and China.