BBA MBA and PostGraduate UnderGraduate Management Courses: It’s time to pump in more efforts

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

It’s time to pump in more efforts
UP needs to come up with new & better policies to boost investment
V. Ramachandran, Director, Sales & Marketing, LG Electronics India

"Ramachandran on why LG started off from Uttar Pradesh..."

We started out about ten years ago from Noida in Uttar Pradesh and at that point of time there weren’t any specific reasons to start operations from Noida. Only the fact that we wanted to be near Delhi and Greater Noida continues to be quite proximate from the airport.

Also at that time there was an easy availability of land in this region along with an access to quality manpower. These were some of the key reasons that prompted LG to kick off operations from Noida. And as the area was developing at that time, we were promised sales tax exemptions for the goods sold within UP for the coming ten years. But this holiday was cut short with the implementation of VAT.

There was a massive investment in the area by LG in the initial phases. However, what has been pouring, in the last couple of years, is just regular investment which is like routine wear and tear that needs to be made.

Apart from that there have been no incentives given by the government to boost Noida as the manufacturing hub for any kind of industry including LG. The major disadvantage of this place for LG is the fact that it is away from any sea port and as in the consumer durable industry most of the parts are imported; that is a big thumbs down and also shoots up the logistic costs.

However, LG hopes & expect that the state government would pump in more efforts to boost the growth of industries within the state & come up with newer & better policies in this regards specially in regards to a benefit in the income tax.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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