 "Samsung to invest Rs 2,000 crore in Noida plant")
South Korean consumer electronics major Samsung on Monday signed a Memorandum of Understanding (MoU) with Uttar Pradesh government for expanding the capacity of its Noida plant at an investment of Rs 2,000 crore.
The MoU was signed here in the presence of chief minister Akhilesh Yadav, who said the fresh investment would create more jobs for the youth in the region.
He claimed the industrial policies of the state government had spurred flow of investment to UP.
Terming Noida as a leading industrial hub of India, Yadav recalled Samsung had started operations at its Noida plant in 1996 after the process of economic liberalisation was stoked in the country. The plant had immensely helped create thousands of jobs, while Noida also secured a global recognition as an industrial town for itself.
The CM exuded confidence other companies would also be encouraged to follow in the footsteps of Samsung and invest in UP, including Yoga Guru Baba Ramdev's Patanjali.
He said UP was a big market and the demand for consumer goods was increasing in both urban and rural areas. In this backdrop, the electronics companies had good business prospects in the state.
Giving the illustration of mobile phones, the CM said the trend of keeping more than one handsets was fast catching on with consumers, which spelt more sales for handset manufacturers.