Returning from Telangana after asserting a Rs 1,000-crore challenge in his state, textile main KITEX Managing Director Sabu Jacob on Sunday mentioned he wouldn’t make investments a single rupee in Kerala.
Jacob instructed reporters in Kochi that Telangana has given a royal welcome to his firm. “We have promised an funding of Rs 1,000 crore within the first part. Further motion will likely be initiated inside two weeks.”
KITEX had canceled its proposed funding of Rs 3,500 crore in Kerala, alleging that “it was difficult to run the existing units due to constraints caused by the government”. Subsequently, the Telangana authorities invited KITEX to put money into that state.
“I cannot make investments even a single rupee in Kerala now. I’m indebted to the native CPI(M) MLA [P V Sreenijin] to create this case. There are 4 different MLAs and one MP [all from Congress] Too. He has proven me what investor-friendliness is and the way a dealer could make crores,” Jacob mentioned.
Jacob alleged that it was Srinijin – the son-in-law of former CJI KG Balakrishnan – who repeatedly demanded the authorities to raid the KITX models in Kizhakkam-Balam. “Being an area MLA, Srinijin is pressurizing the authorities to take motion towards KITEX. Four Congress MLAs from Ernakulam district filed a petition with the Chief Minister saying that the corporate ought to be closed as we’re creating air pollution.
However, he didn’t reply to criticism from Chief Minister Pinarayi Vijayan, who mentioned the KITX transfer was a deliberate transfer to insult Kerala. Vijayan had mentioned that the allegation of Kerala not being investor pleasant was a baseless declare.
Jacob mentioned, ‘Whatever the criticism of the Chief Minister, I cannot reply it.
Industries Minister P Rajeev mentioned, “Kitex can begin enterprise in any state. But he shouldn’t have humiliated Kerala. The authorities is certain to examine the models. The authorities tried to resolve the matter. We haven’t any vested curiosity,” he mentioned.
The minister mentioned the federal government is planning a brand new regulation to make the state extra investor-friendly.
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With inputs from TheIndianEXPRESS
