Big Blow for China! Samsung to setup 53.67 billion manufacturing plant in India

Mobile giants Samsung are looking to explore business opportunities in India as the South Korean company aims to invest a whopping amount in a smartphone display manufacturing plant in the state. A source familiar with the matter revealed that the company is planning to relocate their manufacturing hub which was earlier done in China. Meanwhile the latest business proposal is also expected to create some 1,300 jobs and the facility is likely to begin operations in 2021.  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. Samsung, one of the top smartphone sellers in India, signed a memorandum of understanding with Uttar Pradesh in 2019 on the project. 

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.  In addition to this, Samsung has also contributed INR 2 crore to the Uttar Pradesh State Disaster Management Authority to support the state’s fight against the Covid-19 pandemic. The company  has also supported the local administration and community in Gautam Budh Nagar by providing hospitals with medical equipment required in the preventive drive against the pandemic. Samsung has provided 10,000 Preventive Masks and 6,000 Personal Preventive Equipment (PPE) kits to hospitals.