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New Indian Express
a day ago
- Business
- New Indian Express
Kitex managing director alleges harassment by Kerala LDF government, shifts investment to Telangana
KOCHI: Kitex Group managing director Sabu Jacob has alleged that continued harassment by the LDF government forced him to skip Kerala and invest in another state. Addressing the media on Sunday, Sabu claimed his company faced multiple raids and received no support from the LDF government or the industries minister. 'My company was raided multiple times in a month. They couldn't find any violation of rules. The Left government and the minister did not support the business. Everyone knows the reason why I had to shift my Rs 3,500-crore business from Kerala to another state (Telangana),' Sabu said.
Hindustan Times
a day ago
- Business
- Hindustan Times
War of words between Kerala Minister and industrialist
Kochi, A war of words erupted between Kerala Industries Minister P Rajeev and well-known industrialist Sabu M Jacob over the business environment and investment friendliness in the state. While Rajeeve took a dig at Jacob saying that those who had announced to shift their business from the state were still continuing here, Kitex Groups chairman Sabu Jacob gave a sharp reply saying that Kerala is not the "paternal property" of anybody. The minister and the businessman crossed swords a day after a delegation of Andhra Pradesh government visited Jacob here and invited him to invest in that state. Andhra Pradesh Textiles Minister S Savitha visited the headquarters of the Kitex Garments Limited, one of the leading producers of children apparels in the world, at Kizhakkambalam near here on Saturday. In a later press conference, she invited the Kitex group management to hold discussions with Chief Minister Chandrababu Naidu which was accepted by Jacob. While addressing the reporters in the presence of the Andhra Minister, the industrialist made critical remarks against investing in Kerala and alleged that the ease-of-doing-business is just in papers and those who invest in the state would lose their peace of mind. When reporters sought his reaction about this on Sunday, Rajeev said Jacob was speaking not as a businessman but as the leader of a political party. The minister was apparently referring to Twenty20, a political outfit led by Jacob. "He is a political leader. He may have his own political interests," the minister said and asked the reporters to seek the response of industry outfits to know about the business environment and investment friendliness prevailing in the state. He also said the Jacob's company, which began in a moderate way years ago, has grown worldwide later by functioning in Kerala. Reacting sharply to Rajeev's remarks, Jacob said Kerala is not the ancestral or paternal property of anyone. "If you listen to Rajeev, you may feel that Kerala is their ancestral is the place where me and my father were born and grew up. The money we have now is what we gained through hardwork. It was not gained out of anyone's generosity," he said. The businessman further alleged that the ruling LDF, the state government and the officials have attacked the Kitex Group even though they had not violated anything. The Kitex Group and the Left government in the state have been on a warpath for some time over various issues.
The Hindu
3 days ago
- Business
- The Hindu
Andhra Pradesh Government invites Kitex Garments to invest in State's textile sector
A delegation from Andhra Pradesh government led by S. Savitha, Minister of Handlooms & Textiles, visited Kitex Group Garments' headquarters at Kizhakkambalam near here on Saturday (June 7, 2025). Ms. Savitha, in a press meet soon after the visit, invited the Kitex Group to invest in Andhra Pradesh and lead the textile sector's expansion in the State. Sabu M. Jacob, chairman and managing director of Kitex Garments, received the delegation. I have come as per the instruction of the Chief Minister of Andhra Pradesh, Chandrababu Naidu. Andhra Pradesh offers robust textile infrastructure with dedicated parks, integrated apparel clusters, abundant land and labour, cotton availability, and excellent port and road connectivity. Through its current expansion in Telangana, Kitex is becoming the number one player in the apparel segment. That is why I am here to invite Kitex to invest in Andhra Pradesh and lead the textile sector's expansion in the state, she said. 'Andhra Pradesh is ushering in several forward-looking developments in the textile sector. To be part of this growth story, we are inviting globally acclaimed companies with a proven track record—like Kitex—to invest in the state. Our vision is to create large-scale employment and build Andhra Pradesh into a global textile hub. We will update on further developments after a direct meeting with the Chief Minister,' Ms. Savitha said. If the investment proposal materialises, it will be the company's second biggest investment outside Kerala after Telangana. The Kitex Group has invested ₹3,600 crores in its expansion in Telangana, providing employment to over 50,000 people and expected to consume 15% of Telangana's cotton production, a statement issued by the company here said. The Kochi-based company has invested in two units — one near Hyderabad and another in Warangal - in Telengana. They are expected to be fully commissioned later this year. The Telangana plants would produce 24 lakh units per day, while the KITEX Kizhakkambalam unit near Kochi would produce 11 lakh units a day. The unit near here had around 9,000 people working in production units, down from the earlier 11,000. The company had invested around ₹1,000 crore in the unit here over the last 30 years. KITEX had not made any fresh investments in Kerala over the last 10 years, Mr. Jacob had said while announcing the progress of his investments in Telangana earlier this year. Mr. Jacob had a showdown with the Kerala Government following which he switched his investment destination to Telangana a few years back.
