LG Electronics plans to relocate the production of some of its newer capital goods businesses to India from Korea, China, and Vietnam.
This move is part of the company’s strategy to expand its manufacturing base in India and enhance local production, in response to the global push for supply chain diversification. In addition, LG Corp, the holding company of the LG Group, is investing Rs 1,000 crore to set up a new global R&D centre in Noida, focusing on innovation in electronics and technology design.
The facility is expected to generate employment for 500 individuals.Investor confidence is high, bolstered by the company’s robust distribution network and focus on high-margin businesses.