In a move that showcases another ‘Make in India’ initative from state governments, the Karnataka Industrial Areas Development Board (KIADB) has allocated 62.09 acre of land to Havell’s India at Vasanthanarasapura Industrial Area, Tumkur to set up manufacturing unit for manufacturing of cable & wire, MCB, LED, electronics, solar lights at a tentative rate of Rs. 40.35 lakh per acre.
The company, in a notice to the Bombay Stock Exchange, also said it has entered into a non-binding memorendum of understanding (MoU) with Pan Projects for taking on lease land for setting up of manufacturing facility in the state of Assam to enable it to avail of the rebates and benefits under the policies of Government of India and Assam. The arrangement is subject to change of land use and various other government approvals.
The central government is encoraging companies who are willing to set up manufacturing base in the country. Havell’s is one of the premier players in LED lighting industry and the government is providing many sops for companies that start manufacturing LEDs.
By Atanu Kumar Das