State govt was swift in responding to Kaynes Technologies, stresses minister MB Patil

BENGALURU: Large and Medium Industries Minister M B Patil has strongly justified the government’s prompt action in response to the proposal by Kaynes Technologies India Ltd to set up a unit in the region.

He was responding to industry expert T V Mohandas Pai’s statement on X in which he said that Kaynes Technologies has commenced its Rs 2,800 crore OSAT (Outsourced Semiconductor Assembly and Test) plant construction in Telangana setting aside its earlier plan to set up the plant at Mysuru due to a delay in response by the state government.

Sad day for Karnataka. We have driven away one of our best cos from mysore because of lethargy and lack of response, why are we driving away our industry? How will jobs come @CMofKarnataka @siddaramaiah @PriyankKharge tried. @DKShivakumar @MBPatil Karnataka should not lose out https://t.co/GXDicMdLvj

— Mohandas Pai (@TVMohandasPai) October 27, 2023

According to an official statement, Minister Patil clarified that proposals involving investments exceeding Rs 500 crore require approval from the high-level committee, headed by the chief minister.

“All such industry-related proposals above Rs 500 crore investment need to be approved by the high-level committee headed by the chief minister. However, we had approved the company’s proposal even before the meeting and issued the government order in this regard. There is not even a minor lapse by the government in responding to the company’s proposal”, he said.

He further noted that while the company had engaged in discussions with the chief minister, their decision to opt for Telangana might be attributed to their own considerations. He emphasised that while the government cannot deviate from established norms in granting concessions, they remained in constant communication with the company even during an official business delegation in the United States.

Addressing Pai’s statements, Minister Patil suggested that Pai might not be aware to all the recent developments. He assured that the Commissioner for Industries and Commerce will provide him with a comprehensive overview of the situation. He said that the state has been at the forefront in attracting investment and proposals worth Rs 25,000 crore are in the pipeline. (ANI)