Samsung to shift mobile display manufacturing factory to India, to invest Rs 45 billion

New Delhi: – Samsung, the leading mobile manufacturing company in the world, will be shifting its mobile display manufacturing facility from China to India. Samsung will be investing Rs 48 billion in Uttar Pradesh, and this is another major jolt for China.

The entire world is upset with China over the Coronavirus crisis, and the Chinese trade relations have been strained. Many multinational companies are shifting their manufacturing bases from China. India has relaxed regulations regarding investments to make the most of the opportunity presented. Large scale measures are being taken to make India the manufacturing hub of the world. Many international companies have started investing in India because of the Make in India and Atmanribhar Bharat policies and the huge potential of the Indian market.

South Korean company, Samsung, already has manufacturing facilities in India. Now Samsung is shifting one more facility from China to India. Samsung will be moving its mobile display manufacturing facility from China and setting it up in Uttar Pradesh. The company has been offered many reliefs for this purpose, and one of them is an exemption from paying stamp duty worth Rs 2.5 billion. The Uttar Pradesh government announced that the company would also be given a financial incentive of Rs 4.6 billion. Many companies have shifted their units from China to India over the last few months. Nine companies manufacturing iPhone and its spares have moved their base from China to India. The report becomes essential against this background.