The UP government’s cabinet chaired by Chief Minister Yogi Adityanath approved special incentives to Samsung Display Noida Private Limited on Friday.

The company will get a rebate in stamp duty from the UP govt and a subsidy in capital investment under the Central scheme.

"This is the first high-technique project of South Korea's multi-national major which is being set up in India after relocating from China and the country will become third in the world to have such a unit," the UP government’s spokesperson said in a statement.

With $2.7 billion of exports last year, Samsung is the largest exporter from UP. The company has set the target of $50 billion in exports from the state in the next five years.

Samsung already has a big mobile manufacturing unit in Noida, which was inaugurated by Prime Minister Narendra Modi in 2018. Samsung had then committed Rs 4,915 investment for the factory.


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