Explorer

LG India May Foray Into New Biz Categories Like Healthcare: Report

LG India may foray into business categories such as healthcare and water purification in the country, media reports say.

LG India may foray into business categories such as healthcare and water purification in the country and it will also invest deeper in its manufacturing ecosystem, its Managing Director Hong Ju Jeon was quoted as saying by news agency PTI. According to the South Korean tech major, India market holds a “big potential” as the economic situation here is bright compared to other global markets.

LG is working towards increasing the domestic value addition of locally-made products and is even inviting its sister concerns from South Korea to set up plants for component manufacturing in the country, Jeon said. The company is also looking to increase exports to other countries from India by enhancing the cost competitiveness and more products in its offerings. It is looking at a 10 per cent growth in FY24.

“We will support the India government’s make-in-India initiatives and will increase the exports from here and contribute to the Indian Economy,” said Jeon.

The top company executive also lauded India’s growth story this year and said its economy is growing despite other markets facing tough times on account of global disruption from war and other factors.

When asked about the growth expectation of LG business in India, he was quoted as saying by PTI: “LG also has the same expectation. Even the business in other countries will reduce compared to the rest of the year, but we (LG Electronics India) will grow.” LG Electronics expects to grow in double digits, higher than the GDP numbers.

To recall, LG Electronics opened up its Business Innovation Center (BIC) in Mumbai last month. The new facility is designed to offer customers and partners an immersive experience and a one-stop solution for all their business needs. The BIC is equipped with cutting-edge technology-based products to showcase LG's latest innovations across various verticals. The BIC displays the top-of-the-line products and solutions by LG, such as Information display Solutions (Active LED, Signage, Commercial TV & related products), Information Technology Solutions (Monitor, PC/Laptop, Medical Devices & Projector), System Air Conditioning Solutions (SAC) and Consumer Electronics Products (Home Entertainment / Home Appliances / Residential Air conditioner).

The facility provides a unique opportunity for B2B visitors to experience LG's latest offerings from all product categories for various business verticals.

The BIC will also serve as a hub for training and development for LG's B2B partners’ teams. Furthermore, the facility will allow close interaction and demonstrate proof-of-concept for all of LG’s innovations. It is an ideal business place to experience, learn and experiment with the products for LG’s customers and partners.

View More
Advertisement

IPL Auction 2025

Most Expensive Players In The Squad
Virat Kohli
₹21 CR
Josh Hazlewood
₹12.50 CR
Phil Salt
₹11.50 CR
View all
Most Expensive Players In The Squad
Rishabh Pant
₹27 CR
Nicholas Pooran
₹21 CR
Ravi Bishnoi
₹11 CR
View all
Most Expensive Players In The Squad
Jasprit Bumrah
₹18 CR
Suryakumar Yadav
₹16.35 CR
Hardik Pandya
₹16.35 CR
View all
Most Expensive Players In The Squad
Heinrich Klaasen
₹23 CR
Pat Cummins
₹18 CR
Abhishek Sharma
₹14 CR
View all
Most Expensive Players In The Squad
Ruturaj Gaikwad
₹18 CR
Ravindra Jadeja
₹18 CR
Matheesha Pathirana
₹13 CR
View all
Most Expensive Players In The Squad
Shreyas Iyer
₹26.75 CR
Arshdeep Singh
₹18 CR
Yuzvendra Chahal
₹18 CR
View all
Most Expensive Players In The Squad
Sanju Samson
₹18 CR
Yashaswi Jaiswal
₹18 CR
Riyan Parag
₹14 CR
View all
Most Expensive Players In The Squad
Venkatesh Iyer
₹23.75 CR
Rinku Singh
₹13 CR
Varun Chakaravarthy
₹12 CR
View all
Most Expensive Players In The Squad
Rashid Khan
₹18 CR
Shubman Gill
₹16.50 CR
Jos Buttler
₹15.75 CR
View all
Most Expensive Players In The Squad
Axar Patel
₹16.50 CR
KL Rahul
₹14 CR
Kuldeep Yadav
₹13.25 CR
View all
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Bangladesh: 1 Dead, 10 Injured As Clash Breaks Out In Chattogram Court Area After Chinmoy Das’s Arrest
Bangladesh: 1 Dead, 10 Injured As Clash Breaks Out In Chattogram Court Area After Chinmoy Das’s Arrest
27 Arrested, CCTV Being Scanned, List Of 100 'Miscreants' Prepared: Police On Sambhal Violence
27 Arrested, CCTV Being Scanned, List Of 100 'Miscreants' Prepared: Police On Sambhal Violence
'Came Here For Blessings': Jharkhand CM-Designate Hemant Soren On Meeting Amit Shah, PM Modi
'Came Here For Blessings': Jharkhand CM-Designate Hemant Soren On Meeting Amit Shah, PM Modi
‘Tried To Be Within Maryaada, Didn’t Do Any Encroachment’: PM Modi Quips At Supreme Court Constitution Day Event
‘Tried To Be Within Maryaada, Didn’t Do Any Encroachment’: PM Modi Quips At Constitution Day Event
Advertisement
ABP Premium

Videos

FIR Filed Against Sambhal MP Ziaur Rahman, Statement Released Amidst ControversyFIR Filed Against Sambhal MP Ziaur Rahman and Local MLA's Son in Controversial CaseSambhal Violence Sparks Political Firestorm, Congress MP Imran Masood's Strong Remarks | ABP NewsBreaking News: SP Leader Ram Gopal Yadav Reacts to Sambhal Violence | ABP News

Photo Gallery

Embed widget