Latest news with #SabuJacob
United News of India
8 hours ago
- Business
- United News of India
Kitex skips Kerala, plans to invest Rs 4000 crore in Andhra
Kochi, June 11 (UNI) After a war of words erupted between CPI(M)-led Left Government and Kitex Managing Director Sabu Jacob over existing industry climate in the State, the company expresses interest to invest Rs 4000 crore in Andhra Pradesh. Kitex, one of world's largest infant clothing manufacturers, which has already invested 3,600 crore in Telangana, shows interest in Andhra Pradesh seeing the availability of large quantities of cotton. Other infrastructure facilities including road, air and rail connectivity are also an attraction for setting up an export-oriented garment production unit in Andhra Pradesh, company sources said. A few days ago, in a scathing attack against CPI(M)-led LDG Government for its alleged unfriendly attitude towards industries in Kerala, Kitex MD Sabu Jacob said he was forced to skip Kerala due to harassment from the Left Government. "My Rs 3500 crore business was shifted from Kerala to another south Indian state. My company was raided multiple times in a month proving CPM attitude towards investors and showing lack of Government support in Kerala. But, they could not find any violation of law," the Kitex MD told newspersons. He was responding to Industry Minister P Rajeeve's comment that "Kitex owner is still in Kerala where he established and flourished his business. Though, the Kitex MD has announced launching of his companies in Andhra, but it did not materialize," he added. Sabu Jacob alleged that the Industry Minister was trying to hide the ground reality in Kerala. Sabu Jacob founded Twenty-20 in 2013 to implement Corporate Social Responsibility initiatives of the company in Kizhakkambalam, the eastern suburb of Kochi. The long-term objective of Twenty-20 is to make Kizhakkambalam a model of sustainable development, replicable anywhere in India. In November 2015 Twenty-20 managed to win local body elections with 69 percent vote share. Development initiatives were carried out by Twenty-20 through housing projects, drinking water projects, health, agriculture, education, employment opportunities, green initiative, anti-corruption, infrastructure, schools, supplementary diet, anti alcohol movement, environmental protection activities and women empowerment. UNI DS GNK
New Indian Express
3 days 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.
New Indian Express
5 days ago
- Business
- New Indian Express
Andhra Pradesh to woo Kitex Garments for investment after Telangana
KOCHI: Four years after diverting a mega investment plan from Kerala to Telangana, Kitex Garments is set to receive an invitation from another state. The Andhra Pradesh government has deputed a minister to visit Kitex managing director Sabu Jacob, in an attempt to woo him to invest in the state. Andhra Pradesh Textiles Minister S Savitha will arrive in Kochi on Saturday to visit the headquarters of Kitex Garments – the second largest producer of children's garments in the world – in Kizhakkambalam. According to reports, the minister will hand over an invitation from Andhra Pradesh Chief Minister Chandrababu Naidu to Sabu, inviting him to Amaravati for a personal meeting. 'Currently, we don't have any plan for industrial investment in Andhra Pradesh. But it seems the chief minister is very keen to attract investment to Andhra Pradesh. Let's see what message the minister brings,' said Sabu. Kitex Garments had presented a Rs 3,500-crore investment proposal at the Ascend Global Investment Meet organised by the Kerala government in 2020. However, Sabu withdrew from the project following alleged harassment by the state government.
