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HUL to start new manufacturing arm
February 25, 2020
HUL is planning to start a new subsidiary in India which will be used for manufacturing activities and support growth. New manufacturing arm will help HUL to avail tax benefits to reduce burden on manufacturers. In September, finance minister reduced tax rates for new manufacturing companies which are started after 1st October 2019.
On Monday HUL said, “A new manufacturing arm will be started”.
Srinivas Phatak, the company’s executive director, finance and IT, and chief financial officer, told Mint, “The company that sells daily use products will invest 500-800 crore”.
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