News ArticleHavells India Plans Rs 879 Crore R&D Centre in Noida Backed by Uttar Pradesh Government Incentives
The company receives Letter of Comfort detailing fiscal benefits including up to Rs 25 crore annual capital investment subsidy under GCC-2024 policy
Havells India Limited has received a Letter of Comfort from the Government of Uttar Pradesh approving fiscal incentives for its proposed Rs 879 crore Centre of Excellence (R&D centre) in Noida under the Uttar Pradesh Global Capability Centres Policy 2024. The incentives include up to Rs 25 crore per annum in capital investment subsidies and other operational benefits subject to compliance with policy conditions.
Havells India Limited
Capacity Expansion
Havells India Limited has secured government approval for fiscal incentives on its planned Rs 879 crore Centre of Excellence R&D facility in Noida, Uttar Pradesh, under the state's Global Capability Centres Policy 2024.
The Letter of Comfort dated 5th November 2026 from Invest UP, Government of Uttar Pradesh, confirms the approval for fiscal incentives contingent on fulfillment of policy requirements.
The project is categorized under Advance GCC and is located in Sector 161, Noida, Gautam Buddha Nagar, Uttar Pradesh, aimed at strengthening Havells’ research and development capabilities.
Incentives include 25% of eligible capital investment up to a maximum of Rs 25 crore per annum, distributed in seven equal installments after commercial operations commence, along with additional subsidies and reimbursements related to operational expenses, payroll, EPF, recruitment, internship, and skill development.
All incentives are subject to verification of actual investments, expenditure, and employment as per the terms of the GCC-2024 policy.
Highlights
- Havells India’s planned R&D centre investment: Rs 879 crore over several years.
- Location at Sector 161, Noida, Uttar Pradesh under Advance GCC category.
- Up to Rs 25 crore per annum capital investment incentive for seven years post operations.
- Additional OPEX, payroll, EPF and skill development related subsidies included.
- Incentives dependent on compliance with Uttar Pradesh Global Capability Centres Policy 2024 terms.
Key Data Snapshot
What happened
- Havells India Limited received a Letter of Comfort from Invest UP, Government of Uttar Pradesh, confirming fiscal incentives for a proposed R&D centre.
- The project falls under the Advance GCC category and involves significant investment to enhance research and development capabilities.
Key details
- The R&D centre will be located at Sector 161, Noida, Gautam Buddha Nagar, Uttar Pradesh.
- Planned investment totals Rs 879 crore over the next few years.
- Government incentives include a 25% capital investment subsidy capped at Rs 25 crore annually for seven years.
- Additional incentives cover OPEX, payroll, EPF, recruitment, internships, and skill development.
- All incentives are subject to verification based on actual investment and employment post-commencement.
Regulatory and governance context
- The incentives are granted under the Uttar Pradesh Global Capability Centres Policy 2024 (GCC-2024 policy).
- Disbursement of benefits depends on fulfilling the conditions outlined in the GCC-2024 policy.
- The support aims to encourage development of global capability centres and boost economic activity in Uttar Pradesh.
Highlights
- Havells India’s planned R&D centre investment: Rs 879 crore over several years.
- Location at Sector 161, Noida, Uttar Pradesh under Advance GCC category.
- Up to Rs 25 crore per annum capital investment incentive for seven years post operations.
- Additional OPEX, payroll, EPF and skill development related subsidies included.
- Incentives dependent on compliance with Uttar Pradesh Global Capability Centres Policy 2024 terms.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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