New Delhi, Sep 11: Consumer durables giant, LG has announced its plan to invest about a billion dollars over the next five years in India for marketing and research.
"We will be investing around one billion dollars (about Rs 5,000 crore) in the next five years on R&D and marketing," LG Electronics India Managing Director Moon Bum Shin said.
This move by the South Korean major comes after India posted good results on the economic front.
LG which has been investing up to 130 million per year on R&D and marketing in past few years, has taken the decision to pump in more money into India to stimulate sales and expand research activities.
Shin informed that this investment comes in addition to what the company invests for creating new capacities and expansion to meet the growing market needs.