Kitex being kicked out of Kerala: MD

Sabu M. Jacob, managing director of Kitex Garments Limited, now below limelight for its determination to withdraw from ₹3,500 crore investments within the State, stated he was being “kicked out of the state”.

Investors have died by suicide in Kerala as a result of of the economic local weather right here, Mr. Jacob claimed. While the complete world had modified, Kerala had not modified, he stated claiming that he was being pressured to rethink his funding plans and blamed the federal government for not reaching out to him whereas governments from different states had invited him.

Mr. Jacob was was talking to reporters earlier than leaving for Hyderabad in a personal jet despatched by the Telangana authorities, which had invited him to start out a clothes manufacturing facility within the State. Mr. Jacob is accompanied by a group of 5 high officers of the ₹1,000-crore Kitex Garments Limited.

A group from Telangana authorities was in Kochi this morning to accompany the Kitex group members, stated a press launch from the corporate. The Kitex group has been invited by Telangana Industries Minister K. T. Rama Rao, who will be a part of the Kitex group for lunch Friday.

The Kitex group will then go to the Kakotiya Mega Textiles Park and later maintain a gathering with high officers of the federal government together with principal secretary, the communication added. The Kitex group will even meet with representatives of the Telangana Textiles Mills Association. The group is about to return to Kerala Saturday afternoon.

Mr. Jacob had earlier stated that he was reconsidering his recent funding plans as a result of of a collection of inspections held on the manufacturing facility premises in June. The firm has been hounded and handled like a trouble-maker, he stated. He had stated that 11 inspections have been held on the manufacturing facility premises with out even being warned in regards to the inspections.