"LG Electronics India bags ₹705.74 crore in manufacturing incentives for Pune unit."

LG Electronics India Limited (LGEIL) has received an eligibility certificate from the Directorate of Industries, Government of Maharashtra, recognizing its ₹705.74 crore investment to expand its manufacturing facility in Ranjangaon, near Pune.

The certificate, issued under Maharashtra’s Electronics Policy 2016, covers investments made between November 1, 2017, and October 30, 2024. With this approval, LGEIL becomes eligible for a comprehensive incentive package matching the total investment in the Ranjangaon plant.

Under the scheme, the company is set to receive incentives totaling ₹705.74 crore over a 15-year period. This translates to an annual benefit of ₹47.04 crore from May 1, 2025, to April 30, 2040. The package includes refunds of State Goods and Services Tax (SGST) on goods manufactured at the Pune facility and sold within Maharashtra, along with exemptions from electricity duty and stamp duty.

LGEIL stated that the incentives will support the company’s ongoing growth and strengthen its manufacturing capabilities in the state.