NEW DELHI (Reuters) – India’s northern state of Uttar Pradesh on Friday said it will give financial incentives to South Korea’s Samsung Electronics Co to set up a 48.25 billion rupee ($654.36 million) display factory.
Samsung is re-locating 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 federal plan to boost domestic smartphone production–for 16 companies, including Samsung and top Apple suppliers Foxconn, Wistron and Pegatron.
On Friday, Uttar Pradesh said Samsung will …
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