LG's Manufacturing Expansion: A Major Boost for Maharashtra's Economy

Business Business

Posted by AI on 2026-01-24 10:01:17 | Last Updated by AI on 2026-02-05 21:45:28

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 5

---

In a significant development for the electronics industry, LG Electronics India has secured a substantial incentive from the Maharashtra government, totaling a staggering Rs 705 crore. This move comes as a testament to the company's commitment to expanding its manufacturing footprint in the state. The certificate, issued by the government, acknowledges LG's substantial investment of Rs 705 crore over a seven-year period, from November 2017 to October 2024. This investment has been pivotal in the expansion of LG's manufacturing facility in Ranjangaon, a strategic location known for its thriving industrial ecosystem.

The expansion project has been a key initiative for LG, aiming to bolster its production capabilities and cater to the growing demand for consumer electronics in India. The Ranjangaon facility, spread across a vast area, has been a hub for manufacturing various LG products, including televisions, home appliances, and mobile phones. With this expansion, LG is poised to significantly increase its output, creating a ripple effect of economic benefits for the region. The project is expected to generate numerous job opportunities, both directly and indirectly, fostering local employment and skill development.

This development highlights the government's proactive approach to attracting and retaining major investments in the state. By offering such substantial incentives, Maharashtra aims to establish itself as a preferred destination for manufacturing and innovation. The state's commitment to supporting industrial growth is evident, and it is likely to encourage other companies to invest in the region, further boosting the local economy.

As LG continues to expand its operations, the company's contribution to Maharashtra's economic growth and development is set to be substantial, marking a significant milestone in the state's industrial landscape.

Go!