Leading electronics goods manufacturers to meet FM next week

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Panaji, Apr 18 (UNI) Four leading consumer electronic goods manufacturers in India will meet Union Finance Minister P R Chidambaram to impress upon him the need for taking suitable steps to boost exports with a competitive edge.

Managing Director Moon B Shin of the LG Electronics India Pvt Limited (LGEIL) launching the world's first ever built-in DVD Plasma TV in Goa here said ''The companies meeting with the Finance Minister includes my own along with Sony, Samsung and Whirlpool.'' However, he has no specific proposals to boost exports in the competitive market but added it was for the Finance Minister to suggest including reforms in the taxation and duty framework that would be encouraging to the exporter.

He said the LGEIL, with its two state-of-the-art manufacturing bases at Greater Noida and Pune, has planned to invest 20-30 million dollar per annum in India to bring out innovative and cutting edge products besides improving the quality of the products and service.

''With 25 per cent growth expected in sales of its products, LG is poised to make a net profit of Rs 9,500 crore turnover this year as against Rs 8,000 crore in the previous year,'' he said.

The Indian plants of the LGEIL, which is a wholly owned subsidiary of the LG Electronics of South Korea, account for about six per cent of the the company's 40 billion dollar turnover, he said.


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