In a major boost to India’s electronics manufacturing sector LG Electronics has announced a ₹5,001 crore investment to set up a new manufacturing facility in Sri City, Andhra Pradesh. This move reinforces India’s position as a global manufacturing hub and aligns with the “Make in India” initiative.
The new plant will focus on producing consumer electronics, home appliances, and components, catering to both domestic and international markets.
Key Highlights of LG’s Investment
1. Massive Investment & Job Creation
- Total Investment: ₹5,001 crore (one of LG’s largest in India)
- Location: Sri City, Andhra Pradesh (a major industrial corridor near Chennai)
- Expected Employment: Thousands of direct & indirect jobs
2. Focus on Advanced Manufacturing
- Production of smart TVs, refrigerators, washing machines, and ACs
- Potential expansion into EV components and electronics for global supply chains
- Integration of AI and IoT-enabled appliances
3. Strengthening India’s Electronics Ecosystem
- Supports India’s PLI (Production-Linked Incentive) scheme for electronics
- Reduces dependency on imports by boosting local manufacturing
- Enhances exports from Andhra Pradesh to global markets
Why This Investment Matters?
1. Boost to Andhra Pradesh’s Economy
- Sri City is already home to PepsiCo, Kellogg’s, and Isuzu
- Attracts more global manufacturers to the region
- Strengthens industrial infrastructure & supply chains
2. Job Opportunities & Skill Development
- Creates high-tech manufacturing jobs for engineers & technicians
- Promotes upskilling in electronics & automation
3. Aligns with India’s Self-Reliance Goals
- Supports “Make in India” & “Atmanirbhar Bharat” initiatives
- Reduces reliance on Chinese imports for electronics
Statements from LG & Andhra Pradesh Government
LG Electronics Spokesperson
“India is a key market for LG, and this new facility will help us meet growing demand while supporting local manufacturing. Sri City’s infrastructure makes it an ideal location.”
Andhra Pradesh Government Official
“We welcome LG’s investment, which will create jobs and boost our state’s industrial growth. This reinforces Andhra Pradesh as a top investment destination.”
Future Growth Prospects
- Potential for further expansion into EV and semiconductor components
- Strengthens India’s position in global electronics supply chains
- Could attract ancillary industries & suppliers to Sri City
Conclusion
LG Electronics’ ₹5,001 crore investment in Andhra Pradesh marks a significant milestone in India’s electronics manufacturing journey. By establishing a state-of-the-art facility in Sri City, LG is not only boosting local employment but also contributing to India’s vision of becoming a global manufacturing powerhouse.