New Delhi, Nov 5 (SocialNews.XYZ) Korean multinational LG Electronics is planning to move the production of some of its newer capital goods businesses to India.
These capital goods are used for setting up factories that produce electronic products, displays, and high-tech components.
The shift is expected to take place from existing facilities in Korea, China, and Vietnam, according to reports.
This move is part of LG’s broader strategy to expand its manufacturing base in India and strengthen local production capabilities amid a global push for supply chain diversification.
In a separate development, LG Corp, the holding company of the LG Group, is investing Rs 1,000 crore to establish a new global research and development (R&D) centre in Noida.
The upcoming facility will focus on innovation in electronics and technology design and is expected to generate around 500 jobs.
The development comes at a time when LG Electronics India has been receiving strong investor confidence.
On its market debut last month, LG Electronics India shares surged over 50 per cent, valuing the company at $13.07 billion (Rs 1.15 lakh crore), surpassing its South Korean parent’s market capitalisation of nearly $10 billion (Rs 8,800 crore).
The company’s successful IPO reflected strong optimism about its long-term growth potential and localisation efforts.
Brokerage firms such as Prabhudas Lilladher and Motilal Oswal have given a “Buy” rating on the stock -- highlighting its robust distribution network, premium brand positioning, and strategic focus on high-margin businesses.
Industry analysts believe that LG Electronics India, with its leadership in key product segments and ongoing investments in manufacturing and research, is well-positioned to capitalise on the fast-growing Indian consumer electronics and appliances market, which is projected to grow at a 14 per cent CAGR over 2024–2029.
Source: IANS
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