It is yet another thing to boast about Noida. The Uttar Pradesh government, on October 17th, inked a memorandum of understanding (MoU) with Samsung Group for setting up a unit in Noida, giving a fillip to the Union government’s ‘Make in India’ initiative.
Speaking on the occasion, Chief Minister Akhilesh Yadav said, “Noida is the symbol of Uttar Pradesh and India’s industrialisation and growth ever since the economic liberalisation, twenty years ago. Samsung has been our partner in this growth right since 1996. It has created thousands of jobs, supported business, developed the service sector, and helped give global recognition to Noida. The MoU is yet another step in converting Noida into the electronics hub of India.”
- The government of Uttar Pradesh approved the investment by Samsung India Electronics under ‘Super Mega A’ by the state’s cabinet committee in Lucknow.
- The agreement has cleared the way for the allotment of nearly 30 acres of land to set up a mobile manufacturing unit and refrigeration plant in the city’s Sector 81 area. The unit is likely to commence manufacturing by 2019.
- The company has committed an investment of nearly Rs 2,000 crores.
- Samsung already has a presence in Noida and Greater Noida and this unit is part of their expansion plan.
Two other handset makers—Vivo and Spice mobiles—are also scouting for land in Greater Noida and Yamuna Expressway Industrial Development Authority (YEIDA) area.