Uttar Pradesh government on Friday said it will give financial incentives to South Korea’s Samsung Electronics to set up a $654.36 million (Rs. 4,825 crores) display factory.
Samsung is relocating the factory to the state from China, the Uttar Pradesh administration said in a statement, a move that will help boost Prime Minister Narendra Modi’s flagship drive to make India a manufacturing hub.
India is the world’s second-biggest smartphone market with significant growth potential, which has driven companies such as Samsung to expand locally.
New Delhi earlier this year also approved financial incentives — under a $6.65 billion (roughly Rs.