- LG will continue to manufacture TV sets in India and invest to enhance its capacity
- Duty-free would help the company align with Make in India
- LG believes that waiving of five per cent customs duty on import of TV panel in the open-cell state would also encourage domestic manufacturers
South Korea’s LG Electronics has sought customs duty exemption on imports of open-cell television panels, which will also help domestic manufactures to be more competitive, said a company official to PTI.
At present, imported open cell television panels attract five per cent customs duty. The South Korean giant also said it will continue to manufacture TV sets in India and invest to enhance its capacity.
LG Electronics India Director-Home Entertainment Younchul Park told PTI that import of TV panel in the open-cell state should be duty-free. He further added that duty-free would help the company align with Make in India. Park said that waiving of five per cent customs duty on import of TV panel in the open-cell state would also encourage domestic manufacturers.
Bullish on Indian market
PTI reported that on being asked as to whether LG like other manufacturers, is considering to shift or source TV from other markets, considering the high duty in India, Park said that LG, unlike other brands, is not importing TVs from Vietnam, Malaysia and Thailand at zero duty through the FTA route.
Park further stated that LG is very clear with its policy of Make in India. In India, year-by-year, LG is investing more and the company won’t be changing that strategy.
