Samsung to Infuse 5,000 Cr for Smart Phone Display Manufacturing in India
South Korean multinational conglomerate and consumer electronics major Samsung shall invest Rs. 5,000 crore to expand its manufacturing facility located in Noida, Uttar Pradesh, for setting up a smart phone display manufacturing facility. Once operational, India would become the 3rd country in the World to have Samsung’s smartphone display manufacturing facility.
This smart phone display manufacturing facility shall be an export-oriented unit (EOU). The project is expected to be ready by January-February 2021 and is expected to start commercial production by April 2021. The project is expected to create nearly 1,500 jobs.
With this Samsung could also save on import taxes (10% import duty on display and touch of smart phones) which Indian Government had imposed from October onwards, and could also seek benefits under Production-Linked Incentive (PLI) scheme.
