'When the prime minister and home minister promised their full support for the development of Kerala, why should we not be a part of them?'
Ahead of talks with the Telangana government over his investment plans, chairman of the Kitex group Sabu Jacob, who has backed out from a Rs 3,500 crore project in Kerala, on Friday said he was not leaving his home state on his own, but was being "hounded out".
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
Kerala-based Kitex Garments, the world's second-largest children's garments producer, has landed in trouble after sporadic violence at its workers' camp led to an attack on the local police, injuring at least five officers. The local police told Business Standard that at least 156 migrant workers were detained after the incident and around 50 have been arrested so far. A decision on any possible action against the company will be taken after the investigation.
Jacob, also the chief coordinator of the party, charged that Deepu was brutally beaten up for 15 minutes by the CPI-M workers last week and the accused got in touch with the MLA before and after the incident.
Dismissing as baseless Kitex group chairman Sabu Jacob's allegation that the atmosphere in Kerala is not industry-friendly, state Industries Minister P Rajeev on Wednesday said his government stands for "responsible investment" and the southern state would be made a destination of such investments in few years. In an exclusive interview to PTI, Rajeev said the focus of the government is to attract green industries and IT-based industries in Kerala as land scarcity and environmental issues associated with it have been a problem in the state. "We are always taking a stand in favour of investment, in favour of industries. But our need is that--investment should be responsible. We stand for responsible investment," said Rajeev, who represents Kalamassery-an industrial hub in Kerala--in the state Assembly. Elaborating on responsible investment, the minister said it is a strategy and practice to incorporate environmental, social and governance (ESG) factors in investment decisions.
'India is so poor that political parties will not be able to wipe out poverty from our country in another 100 years. I am of the opinion that development can come only through corporates.' 'Tomorrow, if Tata or Birla or Reliance takes up another 500 panchayats, it will boost the Indian economy also.' Sabu M Jacob, managing director of the Kitex group whose NGO Twenty20 has just won a panchayat election in Kerala, speaks to Shobha Warrier/Rediff.com
From social engineering to bearing the cost of COVID-19 treatment to financial reconstruction of Tamil Nadu's debt the debutant chief minister is emerging as a leader with a difference, says Shjne Jacob
'Both of us are not politicians. We were forced to enter politics to counter corruption that is looting the country.'
Business Standard checks out trade hubs across the country to assess the impact of demonetisation. The first of a six-part series takes a look at Tirupur.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
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