LG plans to invest Rs 1,000 crore in India
August 16th, 2011 - 10:56 pm ICT by IANSKolkata, Aug 16 (IANS) Electronics major LG Electronics will invest Rs.1,000 crore in India in the next two years, a top company executive said Tuesday.
The company will either set up a new plant or expand the capacity of existing plants.
“We will invest Rs.1,000 crore in the next two years in India. We will either set up a new plant or expand the capacity of existing plants in the country to meet growing demands for our products,” LG Electronics India Pvt Ltd managing director Soon H. Kwon told reporters here.
The company currently has two plants in India-one in Greater Noida and another in Pune.
Informing that the company achieved Rs.16,000 crore business in the country, Kwon said it expected 25 percent business growth this year over the last year.
“Last year our overall business grew by 20 to 30 percent. Home appliances segment grew by about 27 percent. Air conditioning business was almost flat,” he said.
He said currently six percent of the company’s total revenue worldwide was coming from India and it was expected that the figure would reach at 10 to 12 percent by 2015.
On expansion the company’s plan in the country, he said, “We currently have 1,300 brand shops. We have planned to expand it to 1,600 this year.”
- LG Electronics to double Indian sales by 2015 - Aug 19, 2011
- LG India ventures into business to business segment - Jun 07, 2011
- Yamaha to set up Rs.1,500 crore plant in Tamil Nadu - May 14, 2012
- Bosch India net up 31 percent in 2011 - Feb 28, 2012
- LG eyeing to clock 30 percent revenue growth in 2011 - Jan 27, 2011
- CG Foods to invest Rs.100 crore in India, eyes acquisitions - Jan 11, 2011
- Now test LG's products at its demonstration zones - Jul 28, 2011
- Indorama to invest Rs.1,000 crore in Himachal project - Apr 03, 2012
- LG Electronics expects 45 percent jump in turnover - Feb 16, 2010
- Godrej eyeing 25 percent refrigerator market share - May 26, 2011
- Tractor major to invest Rs.160 crore in expansion - Apr 03, 2012
- Hero MotoCorp's fourth quarter net up 20 percent - May 02, 2012
- South Korea's LG sees 45 percent jump in India turnover (Lead) - Feb 16, 2010
- LG expects Rs 860-870 crore business from IT products - Jun 18, 2011
- National Aluminium on a major diversification drive: Chairman - Jul 28, 2011
Tags: air conditioning, business growth, company executive, crore, greater noida, home appliances, india pvt ltd, kolkata, lg electronics, managing director, plants, segment