New Delhi, Nov 5 (NationPress) The South Korean multinational LG Electronics is gearing up to transition the manufacturing of select capital goods to India.

These capital goods are essential for establishing factories that produce electronic devices, displays, and advanced components.

Reports indicate that this transition will occur from current facilities located in Korea, China, and Vietnam.

This initiative aligns with LG’s larger strategy to enhance its manufacturing footprint in India while bolstering local production capabilities in light of a global call for supply chain diversification.

Additionally, LG Corp, the parent company of the LG Group, is set to invest Rs 1,000 crore to create a new global research and development (R&D) centre in Noida.

The forthcoming facility will prioritize innovation in electronics and technology design, with the potential to create approximately 500 jobs.

This development emerges as LG Electronics India enjoys substantial investor confidence.

During its market debut last month, LG Electronics India shares soared over 50 percent, bringing the company’s valuation to $13.07 billion (Rs 1.15 lakh crore), exceeding its South Korean parent's market capitalization of about $10 billion (Rs 8,800 crore).

The company’s successful IPO reflects strong optimism regarding its future growth prospects and localization endeavors.

Brokerage firms like Prabhudas Lilladher and Motilal Oswal have issued a “Buy” rating on the stock, emphasizing its strong distribution network, premium brand positioning, and strategic focus on high-margin ventures.

Industry analysts suggest that LG Electronics India, due to its leadership in key product categories and ongoing investments in manufacturing and research, is well-placed to take advantage of the rapidly expanding Indian consumer electronics and appliances market, expected to grow at a 14 percent CAGR from 2024 to 2029.