LG Electronics Expands Its Footprint in India

HYDERABAD: In a significant move to strengthen its presence in India, LG Electronics India Ltd (LGEIL) has announced the establishment of its third manufacturing facility in the country. The new plant, located in Sri City, Andhra Pradesh, represents an investment of US$600 million (approximately Rs 5000 crore) over the next four years.

What to Expect from the New Facility

The facility, sprawling over 247 acres, is set to manufacture a wide range of products including AC compressors, refrigerators, washing machines, and air conditioners. Slated to commence operations by the end of 2026, the plant is expected to create around 1495 direct jobs, marking a significant boost to the local economy.

Strengthening India's Position in Global Supply Chain

This expansion underscores India's growing importance as a critical hub within LG Electronics' global supply chain. The new facility will not only enhance LGEIL's production capacity but also promote local manufacturing, bringing ancillary industries to the region and expediting product access for consumers in South India.

A Testament to Andhra Pradesh's Business-Friendly Policies

The announcement has been hailed by AP Chief Minister N Chandrababu Naidu as a testament to the state's progressive policies, ease-of-doing-business, and innovative environment. The choice of Sri City for the new plant highlights its well-developed industrial ecosystem and excellent connectivity.