Business News

LG: China’s loss, India’s profit

eNarada, Bengaluru, April 21, 2017

Due to prevailing tensions between China and South Korea, consumer electronics giant LG is planning to make India its export hub.

LG products in a wearhouse  in Govindrajnagar. eNarada Pix

LG Electronics India Managing Director Ki Wan Kim said India and South Korea were having friendly ties and as a result most of the Korean companies were seeing India as a strategically important manufacturing base.

Earlier, LG used to serve a number of markets from China and India could replace China as LG’s export hub. Currently, LG has two manufacturing units in India (Noida and Pune) and exports to eastern coast of African continent and Middle Eastern countries (Saudi Arabia and Iran).

LG officials also said that India was now more competitive economically and with the introduction of GST shortly, business environment was looking rosy. Hence, they were looking to make India their export hub.

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