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Samsung to set up Rs 54 billion smartphone display plant in India Samsung to infuse Rs 5,000 crore to expand Noida manufacturing plant Samsung expects to create some 1,300 jobs at the plant, the facility is likely to begin operations in 2021 LINK- https://www.livemint.com/companies/news/samsung-to-relocate-display-production-from-china-to-vietnam-report-11592634639217.html https://trak.in/tags/business/2019/01/24/samsung-may-stop-manufacturing-phones-in-india-what-is-the-issue-here/ South Korean consumer electronics major Samsung will invest nearly Rs 5,000 crore in a smartphone display manufacturing facility in Noida. The export-oriented unit (EOU) is expected to be ready by January-February 2021 and attain commercial production by April 2021. Samsung Electronics should get tax and other incentives from India’s northern state of Uttar Pradesh as the South Korean company looks to invest some 53.67 billion rupees ($705.75 million) in a smartphone display manufacturing plant in the state, India’s lead investment promotion body said in a letter. The letter, seen by Reuters, was sent to Uttar Pradesh’s state government by Invest India in April. Reuters could not determine if the promotion body discussed the letter with Samsung. The Korean company and Invest India did not respond to requests for comment. Samsung expects to create some 1,300 jobs at the plant, the letter said. The facility is likely to begin operations in 2021, the source said. “We are submitting our recommendations to incentivise setup of HiTech industries in Uttar Pradesh and facilitate a key investor - Samsung Display in relocating its operations to India,” the Invest India letter said. Samsung, one of the top smartphone sellers in India, signed a memorandum of understanding with Uttar Pradesh in 2019 on the project. A source familiar with the matter said this would relocate manufacturing previously done in China. Invest India said in the letter Samsung could benefit from higher capital incentives on the overall investment over a 20-year-period, including reimbursement of spending on IT infrastructure. Satish Mahana, Uttar Pradesh’s minister for industrial development, said the incentives were under consideration and a decision was yet to be taken. The investment by Samsung would be a plus for India which is vying with nearby rivals such as Vietnam to attract global smartphone companies under the government’s “Make in India” drive. Presently, competing nations such as Vietnam, Indonesia and Thailand are offering targeted incentive packages on capital expenditure,” the CEO of Invest India said in the letter. “It is imperative that India also promote investments through appropriate fiscal and non-fiscal incentives.” Invest India, set up in 2009, is a non-profit venture under the Indian government’s Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, its website said. Samsung already operates one of the world’s biggest mobile phone manufacturing plants in Uttar Pradesh. Having a local display manufacturing business would help Samsung save on import taxes that India plans to levy on display imports, and boost its smartphone export capabilities. Here you will find: World Khabren EU is an Organisation of European Country Latest World News , Read Latest News Online on World Affairs. Read Latest International News, Expert Reviews, Features & Analysis from Africa, Asia-Pacific, Europe, Latin America, Middle East, North America and Australia, News from around the world find latest Breaking news in Hindi. World News in Hindi, International News, Global News Headlines in Hindi, दुनिया समाचार, दुनिया खबरें, विश्व समाचार Latest International news in Hindi India Pakistan News Pakistan On Rafale Jet NASA Mars Mission Gilgit Baltistan News Brazil President Pakistan Samachar America NewsWorld News in Hindi Hindi Samachar EU is an Organisation of European Country Trump in ahmedabad Namaste Trump PM Modi Viral Video Kanhiya Kumar and Deepika padukone Modi Supporter Best Video Shaheen Bagh Protest Reality of Shaheen Bagh Protest Congress Exposed Money for rally PM modi heart touching video PM Modi Best Speech Modi Best Video Modi Speech for youth Modi most kindness act India support CAA. Amit shah on Pok. Amit Shah on Citizenship Amendment Bill .. Amit shah and Modi friendship. Viral speech of Amit Shah. amit shah on CAA. Amit shah speech on caa. Amit shah reply to Rahul Gandhi. Amit shah with manoj tiwari. Amit shah reply to arvind kejriwal. Amit shah on tukde tukde gang. Amit shah on jnu violence. Tukde Tukde gang Deepika Padukone. Kanhaiya kumar and deepika padukone. Deepika Padukone in JNU. Azadi Slogans. Budget speech. Nirmala Sitharamn Budget speech. Budget speech highlights. Budget explained. India supports CAA. Modi speech in Parliament. PM Modi viral video. Modi in republic prade. Modi supporter best video. Shaheen Bagh protest. reality of shaheen bagh protest. Congress