No plans to invest in State, says Kitex MD

The Kitex Group has not made any investments in Kerala for the reason that Pinarayi Vijayan-led LDF authorities assumed workplace, and the group has at present no plans to spend money on the State, mentioned Sabu Jacob, the Managing Director (MD) of the group.

Responding to an earlier assertion by Industries Minister P. Rajeeve that the group continued to operate in Kerala regardless of threatening to shift its unit out of the State, Mr. Jacob mentioned the agency wanted nobody’s blessings to proceed its operations within the State.

He accused Mr. Rajeeve of blaming others for ‘camouflaging’ his limitations and shortcomings. “The federal government and its officers harassed the corporate. The officers, who performed steady raids within the firm for almost one month, couldn’t discover any wrongdoing. The corporate moved its ₹3,500-crore funding out of the State in protest of the harassment,” he mentioned.

Earlier, Mr. Rajeeve had alleged that Mr. Jacob, who additionally heads Twenty20, a corporate-backed political social gathering, which is ruling the Kizhakkambalam panchayat and had unsuccessfully contested just a few seats within the final Parliament election, was making politically-motivated allegations.

Mr. Rajeeve mentioned HCLTech, a worldwide expertise firm offering IT companies and options, will open its second unit in Kerala at Thiruvananthapuram on Monday (June 9). A number of {industry} captains had lauded the industry-friendly environment within the State. A couple of firms will arrange store within the State shortly. Anybody who’s trying to destroy the industry-friendly environment of the State will likely be answerable to the youth of Kerala. The federal government is within the course of of making extra employment alternatives for the youth within the State itself, he mentioned.