LG Electronics India Secures Maharashtra Incentives for Ranjangaon Expansion
- brg_news_room
- Jan 23
- 1 min read
India: LG Electronics India Limited has received an eligibility certificate from the Directorate of Industries, Government of Maharashtra, approving incentives worth ₹705.74 crore (USD ~79.3 million) under the state’s Electronics Policy 2016 for its mega expansion project. The certificate validates investments of ₹705.74 crore (USD ~79.3 million) made at the company’s Ranjangaon manufacturing facility in Pune between November 1, 2017, and October 30, 2024. With the investment phase completed, the approved incentives are equivalent to the total capital outlay for the expansion of the unit.
Under the approval, LG Electronics India is set to receive annual incentives of ₹47.04 crore (USD ~5.29 million) over a 15-year period from May 1, 2025, to April 30, 2040. The incentives include refunds of State Goods and Services Tax (SGST) on goods manufactured at the Pune facility and sold and consumed within Maharashtra, exemptions from electricity duty, stamp duty and property tax, power tariff subsidies, and refunds of the employer’s contribution to the Employees’ Provident Fund (EPF). The incentives will remain valid for 15 years, supporting the company’s manufacturing operations in Maharashtra and providing long-term revenue visibility.
Source: ET
