Aiming to strengthen its position against Korean giants such as LG and Samsung, domestic consumer durables firm Videocon will invest over INR 100 crore next year in research and development and in enhancing manufacturing capacities.

The company is lining up an entire new range in washing machines as well as in LED television segment. Besides, it plans to introduce more range in the Smart TV category.

Mr Anirudh Dhoot Videocon Industries director told PTI that “Every year we invest INR 50 to INR 60 crore in research and development. Next year,it will be 10% more ... We are bringing up an entire new range on most products.”

Mr Dhoot said that “We are also enhancing our manufacturing units both in Uttarkhand and Maharashtra. We will make another INR 50 crore investment for the new lines and on upgrading the technology.”

Videocon has seven plants in Gujarat, Uttarkhand, Maharashtra, Karnataka, Andhra Pradesh and West Bengal.

Besides, the company plans to increase local manufacturing in the country.

Mr Dhoot added that “We are going to focus more on domestic manufactring...India has a huge potential in the domestic manufacturing sectors. The Government should give more incentives and tax benefits.”

(Sourced from ET)