It is a major victory of Make In India project that the South Korean industrial giant company Samsung shifts mobile phone display manufacturing unit from China to India. In 2019 it was a big news that Samsung ends mobile phone production in China and in 2020 they completely pulled out from there and decided to shift it to India and Vietnam.
Samsung relocated production to Vietnam and India in large part as a response to the trade war between world’s two largest economics USA and China. China regards as the world’s factory, held a virtual monopoly over the global supply chain of manufacturing in the last three decades.
On 20th June South Korean multinational conglomerate Samsung announced that it had completed the construction of a display manufacturing plant in Noida, Uttar Pradesh. The company has shifted the plant from China to India. A delegation of the company led by Ken Kang, Southwest Asia president and CEO, met CM of Uttar Pradesh Yogi Adityanath. They invested Rs. 4,825cr for this shifting.
Under the state government’s ‘Electronics Manufacturing policy 2017’, the South Korean telecommunication giant will get an exemption from stump duty on the transfer of land. The state government will also make financial provision of Rs. 250cr for this project for next five years. Samsung will also receive a financial incentives to the tune of Rs. 460cr under the central scheme for promotion of Manufacturing Electronic Components and Semiconductors.
It is really a great success of Make in India project. Not only Samsung, Apple also decided to shift there plants from China to India. In some years India should become a manufacturing giant and thats what we should hope .