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

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Business Standard

8 minutes ago

• Business Standard

After evacuation from Iran, Indians express relief; 827 brought back so far

The Indian government's Operation Sindhu has successfully evacuated 827 Indian nationals from conflict-hit Iran, with the latest flight landing in New Delhi on Saturday. The evacuees, including students and pilgrims, shared their experiences of the tense situation in Iran and praised the efforts of the Indian embassy and government. The evacuation flight from Mashhad, carried 310 Indian nationals, who were safely brought back to the country under Operation Sindhu. Sharing the images of the evacuation, Ministry of External Affairs spokesperson Randhir Jaiswal wrote on X, "Another evacuation flight from Mashhad landed in New Delhi at 1630 hrs on 21 June with 310 Indian nationals from Iran. With this, a total of 827 Indians have been evacuated." Nadeem Asgar, an evacuee, told ANI, "I am thankful to my nation for keeping us safe there and bringing us back safely. As soon as the situation went south, we were evacuated by the embassy. I am very thankful to the Indian government." Farzana Abdi echoed similar sentiments, "We are coming back from Iran. There was a lot of fighting and missiles there. The Indian embassy helped us a lot and brought us here. We are very happy to be back in India. India is the best." Riyazul Hasan described the dire situation in Iran, "The situation is not good there. We saw from our hotel window that the missiles were coming, which were being intercepted mid-air. We are relieved to be back here. We came through the embassy. We thank PM Modi." Fatima expressed her gratitude to the Prime Minister, "I am very grateful to PM Modi. Now I feel at peace after coming back to my country. Being back in your homeland is a matter of great joy." Almas Rizvi praised the Indian embassy's support, "We were given accommodation in a good hotel and given lunch, dinner, everything, on time. It feels good to be back in our country. The Indian embassy helped us a lot. The Indian government took good care of us and didn't even let us feel we were living in a war-like situation." Daniya shared her relief, "I am delighted. We were terrified. The situation was very dire in Tehran. I thank the Indian embassy and Prime Minister Narendra Modi from the bottom of my heart because of which we could reach here safely." Earlier in the day, International Atomic Energy Agency (IAEA) Director General Rafael Grossi said, a centrifuge manufacturing workshop in the central Iranian city has been struck, making it the third nuclear-related facility targeted in Israeli attacks since June 13, Al Jazeera reported. "We know this facility well. There was no nuclear material at this site and therefore the attack on it will have no radiological consequences," Grossi said in a statement posted by the IAEA. On Friday, Grossi said the nuclear watchdog does not have information showing Iran is actively trying to build nuclear weapons. The Israeli military has already said that it's got many targets that it still has to hit, and the campaign has clearly broadened beyond the military, beyond top scientific advisers, and beyond missile launchers. So there's nothing really stopping Israel from carrying on until it's achieved its stated objectives. Well, that is, to stop Iran enriching uranium to produce a nuclear weapon, as per Al Jazeera. The Israeli military has warned Israelis that they should be prepared for a long campaign. According to Al Jazeera, from Iran, overnight we had about 40 drones fired, according to the Israeli military, one of those getting through the air defences. In all, there have been about 450 missiles fired since the start of this fighting. According to the Israelis, 450 ballistic missiles and 400-plus drones.

Time of India

18 minutes ago

• Time of India

Fly ash brick prices up due to raw material costs

Indore: A significant increase in raw material costs led to a price hike of 0.50 paise per piece in fly ash bricks across Indore, lifting the overall building costs for homeowners and construction companies. The surge primarily stems from the rising costs of stone crusher dust and other essential materials used in the manufacturing process. The revised cost of fly ash bricks in Indore is Rs 6.50 per piece. Now the cost of a small truckload carrying 2,000 flyash bricks will be dearer by Rs 1,000. Vijay Gandhi, a builder and member of Confederation of Real Estate Developers' Associations of India (CREDAI), Indore said, "Any jump in the input cost directly impacts the building cost. In Indore fly ash is used in around 30-40 per cent projects and red bricks are used widely in Indore due to its easy availability." The robust manufacturing base has established Indore as a significant hub for fly ash brick production in the region. According to industry data, Indore's fly ash brick manufacturing units produce approximately 20 lakh pieces daily. The majority of this production serves the local market, with most supplies being consumed within the city and a 20-kilometre radius. Abhishek Purohit, vice president, Fly Ash Brick Manufacturers Cooperative Society Ltd, said, "The association members unanimously decided in a meeting that due to the rising costs of gravel and stone crusher dust used in the production of fly ash bricks, the price per brick will be increased by 0.50 paise. These revised rates will be implemented immediately." The city hosts over 200 fly ash brick manufacturers, forming a substantial industrial segment. These units collectively require around 6,000 tonnes of fly ash per day to maintain their production levels. Industry experts suggest that this price increase could impact ongoing and planned construction projects in the area. Small-scale builders and individual homeowners might need to revise their budgets to accommodate these higher material costs. "Local manufacturers are working to maintain steady production levels while managing increased operational costs, but this has resulted in squeezed margins. Fly ash bricks offer an eco-friendly alternative to traditional clay bricks, and despite the price increase, these bricks remain an essential building material," said Gaurav Mohta, president, of the association. Fly ash manufacturers highlighted challenges related to logistics and timely transportation of fly ash to end-users.

Time of India

22 minutes ago

• Time of India

BJP has hijacked JDU, Nitish Kumar won't be chief minister after elections: Tejashwi Yadav

"...Everyone in Bihar knows that Nitish Kumar will not be the chief minister after the elections. Amit Shah has clarified this multiple times... The BJP has hijacked the JDU. Sanjay Jha is an RSS person. He is in JDU from Arun Jaitley quota. JDU ticket distribution will also be done by Amit Shah, not Nitish Kumar..." the RJD leader told ANI. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Patna (Bihar) [India], June 21 (ANI): Rashtriya Janata Dal (RJD) leader Tejashwi Yadav on Saturday alleged the Bharatiya Janata Party (BJP) has taken control of the Janata Dal (United), claiming that Chief Minister Nitish Kumar will not retain his post after the upcoming Bihar Assembly reiterated his claims that the BJP will have a decisive say in distribution of assembly tickets by the regional party."...Everyone in Bihar knows that Nitish Kumar will not be the chief minister after the elections. Amit Shah has clarified this multiple times... The BJP has hijacked the JDU. Sanjay Jha is an RSS person. He is in JDU from Arun Jaitley quota. JDU ticket distribution will also be done by Amit Shah, not Nitish Kumar..." the RJD leader told today, Tejashwi Yadav launched a scathing attack on the Janata Dal (United) in poll-bound Bihar, alleging that BJP will have a decisive say in distribution of assembly tickets by the regional a press conference, Yadav also attacked the coalition government over its governance record, asking if it had set up IT parks, SEZ (Special Economic Zone), industrial clusters, semiconductor factories, food processing units or educational hubs in the state. JD(U) and BJP are the leading parties in the ruling coalition in parties in Bihar have talked about "health condition" of Chief Minister Nitish Kumar and Tejashwi Yadav also took potshots during his presser."Nitish Kumar's unconscious state is a blessing for them. The JDU tickets will also be distributed by Amit Shah... This is confirmed. Sanjay Jha is a BJP-RSS person. He is in JD(U) from the Arun Jaitley quota," Yadav RJD leader accused the Nitish Kumar government of lacking a vision."We will force the government to speak on IT parks, SEZ (Special Economic Zone), industrial clusters, industrial parks, semiconductor factories, food processing units, textile hubs, educational hubs and health cities. This is our vision: all-around development. The government will be forced to pay attention to these topics," he said."Nitish Kumar was there for 20 years, and PM Modi has been there for the last 11 years. Why were the things mentioned above not established? But when Tejashwi comes, he will complete all these works," he Nitish Kumar on Saturday announced that widowed women, senior citizens, and differently abled people covered under Bihar government's Social Security Pension Schemes will now be receiving Rs 1,100 pension per month."I am happy to inform you that under the Social Security Pension Scheme, widowed women, elderly and disabled people will now get a pension of Rs. 1,100 instead of Rs. 400 every month," Nitish Kumar posted on X."All beneficiaries will get a pension at the increased rate from July. It will be ensured that this amount is sent to the account of all beneficiaries on the 10th of the month. This will help one crore nine lakh sixty nine thousand and two hundred and fifty five beneficiaries a lot. The elderly are a precious part of society, and ensuring their dignified living is our top priority. The state government will continue to make efforts in this direction," the post will face assembly polls later this year.