Listing out milestones in the company's operations in India, Karwal said it had achieved sales of Rs 400 crore in 16 months of operation and by the 20th month, it was targeting Rs 580 crore.

LG Electronics has been selected as the official consumer durables and home appliances company for the cricket tournament. The parent company has set aside $12 million to $15 million for event. The India budget is yet to be finalised.

LG Electronics India plans to launch special advertisement campaign for the WorldCup. The company plans to launch several initiatives during the next year for the welfare of the retired sportspersons. It also plans to set up four training centres across India to groom fresh talent.

The World Cup '99 will see 12 cricket teams clash for the title at 21 different venues in England, Scotland and Ireland. A total of 42 matches would be played by the teams between May and June 1999. The 12 teams have been divided into two groups and three teams from each group will qualify to go into the semi after round robin matches.

The winning team will be get $1 million as prize money. Tournament director Terry Blake from the England and Wales Cricket Board, stated that 75 per cent of the tickets for the tournament has already been sold. The organisers have also sold telecast rights for $40 million.

The main sponsor of the tournament is New York-based Pepsi Cola Company. The beverages company has signed up a deal with England and Wales Cricket Board to become the global partner of ICC Cricket WorldCup in 1996.