Samsung to invest Rs 1,970 crore in UP to boost Make in India : News, News – India Today

Samsung to invest Rs 1,970 crore in UP to boost Make in India

Samsung India Electronics on Monday announced expansion of its Noida plant with an investment of INR 1,970 crore, strengthening its commitment to “Make in India” and “Make for India”. A memorandum of understanding (MoU) was signed between the company and the state government for setting up a manufacturing unit in Uttar Pradesh.

The MoU was signed in the presence of Chief Minister Akhilesh Yadav and senior Samsung officials. Under the agreement, Samsung would be investing Rs 1,970 crore in the state.

A manufacturing plant would be set up in Noida and the company would also be making smartphones for the ambitious free Samajwadi Smartphone Scheme, announced by the Chief Minister. The scheme would be rolled out next year after the state assembly polls, if the Samajwadi Party (SP) returns to power.

Under the scheme, free smartphones will be given to bonafide residents of Uttar Pradesh — individuals over 18 years and having a minimum educational qualification of matriculation (having passed Class 10).

 

Source: Samsung to invest Rs 1,970 crore in UP to boost Make in India : News, News – India Today