LG plans global innovations from India

Excerpted from an interview of Moon Bum Shin, managing director of LG Electronics India, with the Economic Times, Mumbai, April 5, 2010, "We’ll spend $5 m on marketing: LG India", p. 4.

Q. Where does India figure in your global scheme of things?

A. We will make India the export hub for LG. This market will lead our global innovation and new development, and supply the new platform of green and environment-friendly products globally. We have chosen India to lead because the labour market here is rich with talent. There are scores of qualified engineers, best in class universities, and most importantly, a big base of Englishspeaking population. We are betting on this vast consumer base- the youngistaan of India. We have set up a learning, design and R&D centre in the Greater Noida headquarters. We will take these to big, separate locations within five years. This year, we plan to invest Rs 400 crore in R&D and Rs 700 crore in marketing. Our aim is to have 40% share in each category that we operate in within five years.

Read the original article at economictimes.com

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About globalization of innovation with India focus see: www.global-innovation.net