LG Electronics sees India emerging as key manufacturing and export hub

LG Electronics India already exports Made-in-India products to over 50 countries and has invested Rs 5,000 crore in its Sri City factory, which will also serve as an export hub

At its first annual general meeting (AGM) after listing, LG Electronics India told shareholders that the country is increasingly becoming an important manufacturing and export hub. 

 

“We already serve over 50 countries through Made in India export, and by calendar year 2026, we are targeting 22 countries for Essential series export. We have also invested ₹5,000 crore in our Sri City factory,” said Sanjay Chitkara, co-chief sales & marketing officer at LG Electronics India. 

 

The Sri City factory, which will also serve as an export hub, will begin operations by December. 

 

He added that the strategy is to export premium products to advanced markets and expand its Essential series of products to emerging markets. 

 

 

“Our ‘Make in India’ or the world strategy is an increasingly important growth lever for LG India,” Chitkara said. 

 

The company's management said that it monitors global developments closely and acts in time. It also continues to add new geographies to reduce its dependency on any one market, it said. 

 

The consumer and home electronics major will focus on innovation, operational excellence, sustainable growth and long-term value-creation, Daehyun Song, chairman of LG Electronics India, said at the AGM. 

 

“Going forward, our focus will remain on innovation, operational excellence, sustainable growth, and long-term value creation. 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,” Song said.

 

LG Electronics India has maintained a leading position in most product categories, said Managing Director Hong Ju Jeon, while answering shareholders’ questions. The company’s strength is based on three key areas; innovation, customer experience and partnerships with its channel partners. 

 

“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 per cent, washing machines is 20 per cent and room air conditioners is 10 per cent. We also expect further demand growth following the GST (goods and services tax) rate reduction for air conditioners and larger TVs. In simple terms, we see strong growth potential for LG Electronics in India,” Jeon said. 

 

The management said that it is using artificial intelligence (AI) to optimise how appliances operate and reduce energy consumption.