LG India expects 10% growth, exploring new business categories, says MD

LG Electronics India expects around 10 per cent growth in FY24 and exploring new business categories here besides investing further in its manufacturing ecosystem, said its Managing Director Hong Ju Jeon on Wednesday.

India is an important market for the South Korean chaebol, where it sees a “big potential” as the economic situation is bright compared to other global markets with a growing population with more youths, he said.

The company is working towards increasing the domestic value addition of India-made products and is even inviting its sister concerns from South Korea to set up plants for component manufacturing here, Jeon told PTI in an interaction here.