HUL to set up a subsidiary with 2000 crores

Hindustan Unilever Limited is all set to set up a new subsidiary, which has an authorised capital of Rs 2,000 crore. This has been formed to leverage on enablers, including corporate tax as well as ‘Make in India’ initiative, said the company sources. It is worth mentioning that HUL, the country’s biggest consumer goods firm, has over 28 manufacturing facilities and attract corporate tax of over 25%.