UP cabinet clears proposal for Rs 250-cr incentives for Samsung’s Noida unit

The Uttar Pradesh Cabinet on Friday cleared a proposal to give Rs 250-crore incentives to Samsung Display Noida Private Ltd for a manufacturing unit for mobile phones and IT display products.

The government said it would be the South Korean multinational’s “first high-technique” project in India after relocating from China, and India will become the third country in the world to have such a unit.

As per the UP Electronics Manufacturing Policy, 2017, the company would get stamp duty exemption worth Rs 250 crore in transfer of land, said a government spokesperson.

Besides, the company will receive Rs 460 crore as a financial incentive under the Central government’s ‘Scheme for Promotion of Manufacturing Electronic Components and Semiconductors’ (SPECS).