South Korean Samsung already last year he promised to open a new factory for OLED displays in India, which was supposed to provide several thousand new jobs and, above all, a more lucrative offer for the market there, including higher competitiveness. However, due to the coronavirus pandemic, the plans were canceled prematurely, and slowly it seemed that this initiative would somehow be forgotten. Fortunately, the company did not give up on its promise to the Indian government, and since it can benefit significantly from production in India, it decided to slightly speed up the work and send a few more employees to the country, who will negotiate the conditions and, above all, go through the available incentives from the government there.
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And it's no wonder, according to available information, the factory is supposed to cost 653.36 million dollars, which is not a small amount at all considering the investment for the future. Specifically, the new complex is to be located in the city of Noide in the Uttrapadesh region, whose Chief Minister Yogi Adityanath approved a small financial injection in the form of 9.5 million dollars to motivate Samsung to continue the work. In any case, the deal will pay off for both parties, and while the Indian government will be able to enjoy more jobs and attention from multinational corporations, Samsung in this case will especially benefit from fewer restrictions and the freedom that comes with manufacturing in India instead of China.
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