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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1284 |
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In hindsight, it was a boon," says Kapila. Sample this: LG has put up an application before the Foreign Investment Promotion Board (FIPB) to clear investments worth $100 million (Rs 450 crore) over its earlier limit of $296 million. How many Indian businessmen could have matched this investment as LG's partner? "Indian partners in most of these joint ventures are reluctant to put money as the brand they help develop, at the end of the day, belongs to someone else," says a Mumbai-based businessman with interests in consumer electronics...
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Being on its own, LG was also able to move at a fast pace. When it started off, within a space of five months it was able to complete its nationwide launch. Most other companies took up to two years to complete their all-India launch. "Most other players had ignored the east. But we didn't. Today, 20% of our turnover comes from the east," says Kapila...
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