LG Electronics India is planning to increase its local components sourcing for its made-in-India GSM handsets from 20 per cent to 50 per cent by the end of this year with component manufacturers from Korea, Taiwan and Europe setting up plants near LG’s Ranjangaon plant in Pune. A month ago, the company started sourcing chargers and packing from domestic vendors, taking its local sourcing of components to 20 per cent. Increased local sourcing will help it save freight costs, customs duty and other taxes.
