06-Nov-2026 12:45:53
HAVELLS INDIA: PLANS ₹879 CR R&D CENTRE IN NOIDA; SECURES UP GOVT INCENTIVE SUPPORT
• Investment Plan: Proposes investment of ₹879 Cr over the next few years to establish a Centre of Excellence (R&D Centre) • Project Location: Sector 161, Noida, Gautam Buddha Nagar, Uttar Pradesh • Government Support: Received Letter of Comfort from Invest UP on November 5, 2026, under Uttar Pradesh's GCC Policy 2024 • Capital Subsidy: Eligible for incentives equivalent to 25% of qualifying capital investment, subject to a maximum of ₹25 Cr annually • Incentive Timeline: Capital incentives to be disbursed in seven equal annual instalments after commencement of commercial operations • Additional Incentives: Potential subsidies and reimbursements for operating expenses, payroll, EPF, fresher recruitment, internships and skill development • R&D Expansion: New facility aims to strengthen Havells India's research, product development and innovation capabilities • Project Classification: Proposed centre falls under the Advanced Global Capability Centre (GCC) category • Approval Conditions: Incentives remain subject to policy compliance and verification of actual investment, expenditure and employment • Growth Strategy: Investment supports long-term technology development, product innovation and research capabilities
HAVELLS INDIA LIMITED