Havells India secures state fiscal incentives

Havells India secured a Letter of Comfort from the Uttar Pradesh government to access fiscal incentives under the state’s GCC-2024 policy. The company plans to establish a new research and development centre with a proposed investment of ₹879 crore over the coming years.

Invest UP issued the document to support the company’s proposed Centre of Excellence. The state policy provides incentives covering 25% of eligible capital investment, capped at ₹25 crore annually. These benefits are payable in seven equal yearly instalments once the facility begins commercial operations. Additional support under the policy includes reimbursements and subsidies related to payroll, operating expenses, employee provident fund contributions, and internship programs.

Beyond these capital incentives, the policy covers fresher recruitment, skill development, and other operational expenditures. Havells India operates as a leading consumer durable and FMEG company with a presence in many countries. Its product range includes industrial and domestic electrical goods alongside various consumer durables. The company intends to deploy the proposed investment for its R&D centre over the next few years as it expands its infrastructure capabilities.

Based on company and agency reports. For information only; not investment advice.