LG Electronics India has plans to set up a new plant in Andhra Pradesh to boost its manufacturing capacity in the country.

Apart from this, the company is increasing the sourcing of raw materials from the local market, which helps to meet consumer demand and lower its inventory and related costs, to  be able to competitively price the products, as per the company's Draft Red Herring Prospectus (DRHP).

LG Electronics India has two manufacturing units at Greater Noida and Pune, with an installed capacity of 1,39,90,000 products. Besides products, it manufactures several key components, such as compressors and motors.

The company is supported by its parent entity, LG Electronics in different aspects of its business, including product innovations, product design, technologies for manufacturing, technical know-how and exports.

Besides, it has already received nod for financial incentives under Andhra Pradesh Industrial Development Policy on 26 November, 2024.