LG eyes component base in India – Feedback

Korean chaebol LG Electronics is looking at building a local component base for its business in the country, even as the central government urges foreign-based entities to begin manufacturing under the Make in India programme.

LG has identified mobile phones and kitchen appliances for local manufacturing. Additionally, India is a strategic market for LG, which it is keen to develop as a regional hub for exports. Implying it will have to build a local component base here, they said. Kim Ki Wan, managing director of LG India, told this newspaper: “We were asked by the PM and other ministers to make in India and we are studying the market to see how we can build a component base.” LG’s recently launched K7 and K10 smartphones will be made at Greater Noida. Kitchen appliances such as water purifiers are being produced locally since February at its plant in Pune, says Wan. The plan is to add more products to the Make in India list, which will require a viable component base, executives said.

http://www.business-standard.com/article/companies/lg-eyes-component-base-in-india-116052301444_1.html

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *