1 week ago
LG India Targets Export Hub Growth Through Make in India
LG Electronics India wants to make more products in India and sell them to other countries.
The company says India could become an important manufacturing and export center.
It has invested Rs 5,000 crore in a factory at Sri City.
The factory is expected to start operating by December.
LG already sends products made in India to more than 50 countries.
It wants to sell its Essential series in 22 countries by 2026.
The company also sees room to sell more refrigerators, washing machines and air conditioners in India.
Lower GST rates for air conditioners and larger televisions may further increase demand.
LG Electronics India plans to expand exports and make India a key manufacturing and export hub.
The company has invested Rs 5,000 crore in its Sri City factory, which is expected to begin operations by December.
LG India currently exports Made-in-India products to more than 50 countries.
By calendar year 2026, the company aims to export its Essential series to 22 countries.
LG India cited low appliance penetration and GST rate reductions as potential drivers of future demand.
- Who
- LG Electronics India, including executives Sanjay Chitkara, Daehyun Song and Hong Ju Jeon.
- What
- The company announced plans to expand Indian manufacturing and exports while pursuing further domestic growth.
- Where
- India, including LG’s Sri City factory; the company currently exports Made-in-India products to more than 50 countries.
- When
- The announcement was made at the company’s first annual general meeting on Friday; the Sri City plant is expected to begin operations by December, with the export target set for calendar year 2026.
- Why
- LG views its Make in India strategy, low household-appliance penetration and lower GST rates on some products as opportunities for growth.
Key facts
- Factory investment
- Rs 5,000 crore invested in the Sri City factory.
- Factory timeline
- Operations are expected to begin by December.
- Current exports
- Made-in-India products are exported to more than 50 countries.
- 2026 export target
- The Essential series is targeted for export to 22 countries by calendar year 2026.
- Refrigerator penetration
- 30% in India, according to LG India’s managing director.
- Washing-machine penetration
- 20% in India, according to LG India’s managing director.
- Room-air-conditioner penetration
- 10% in India, according to LG India’s managing director.
Quotes
Sanjay Chitkara
Co-chief sales and marketing officer at LG Electronics India
“The penetration of home appliances in India is still relatively low. This means there is significant room for future growth. Today, refrigerator penetration is 30%, washing machines is 20% and room air conditioners is 10%.”
financialexpress.com
“The company’s listing during the year has also been an important milestone. We are committed to maintaining the highest standards of corporate governance, transparency, and accountability expected from a listed company.”
financialexpress.com
Sources
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