Kitex being kicked out of Kerala: MD
The Hindu
Sabu M. Jacob, managing director of Kitex Garments Limited, now under limelight for its decision to withdraw from ₹3,500 crore investments in the State, said he was being "kicked out of the state
Sabu M. Jacob, managing director of Kitex Garments Limited, now under limelight for its decision to withdraw from ₹3,500 crore investments in the State, said he was being "kicked out of the state". Investors have died by suicide in Kerala because of the industrial climate here, Mr. Babu claimed. While the entire world had changed, Kerala had not changed, he said claiming that he was being forced to reconsider his investment plans and blamed the government for not reaching out to him while governments from other states had invited him. Mr. Jacob was was speaking to reporters before leaving for Hyderabad in a private jet sent by the Telangana government, which had invited him to start a garments factory in the State. Mr. Jacob is accompanied by a team of five top officials of the ₹1,000-crore Kitex Garments Limited.
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