Integrating India’s software talent to accelerate semiconductor design and AI solutions, LG Electronics aims to build global innovation hubs.
LG Electronics is keen to set up its research and development base in India, and wants to utilise the young talent to develop technologies for semiconductors, artificial intelligence and robots.
The Korean company currently operates two factories in Greater Noida, Uttar Pradesh, and Ranjangaon (Pune), Maharashtra, and is building the third in Andhra Pradesh with an investment of 50.01 billion crore to produce washing machines, refrigerators, ACs and components. The company believes that India’s growing GDP is nearing an inflection point that will trigger a surge in demand for appliances, leading to supply shortages.
According to the CEO Wiaaliam Cho, government initiatives such as production-linked incentive (PLI) schemes will support the company’s expansion plans. He also said that LG will double its R&D manpower in India by 2027. At present, LG has approx 500 people in India for R&D.
Cho said,” It is amazing to see the Indian subsidiary’s performances in the last three decades. We would like to replicate the best practice from India in other emerging markets.” LG aims to make India a key consumer market as well as a global knowledge hub, driving its next-gen product platforms.
The India IPO was the first by a local unit and came out to be the first initiative of growth in the Global South markets for the LG Electronics.
