Government swift in responding to Kaynes Technologies, affirms Minister MB Patil

Bengaluru (Karnataka) [India], October 27 (ANI): Karnataka Large and Medium Industries Minister MB Patil on Friday strongly justified the government's prompt action in response to the proposal by Kaynes Technologies India Limited to set up a unit in the region.
He was responding to Industry expert Mohandas Pai's statement in X in which he said that Kaynes Technologies has commenced its Rs 2,800 crore OSAT (Outsourced Semiconductor Assembly and Test) plant construction in Telangana setting aside its earlier plan to set up at Mysuru due to a delay in response by the state government.
According to an official statement, Minister Patil clarified that proposals involving investments exceeding Rs 500 crores require approval from the high-level committee, led by the chief minister.
"All such industry-related proposals above Rs 500 crore investment need to be approved by the high-level committee headed by the chief minister. However, we had approved the company's proposal even before the meeting and issued the government order regarding this. There is not even a minor lapse by the government in responding to the company's proposal," he said.
He further noted that while the company had engaged in discussions with the chief minister, their decision to opt for Telangana might be attributed to their own considerations.
He emphasized that while the government cannot deviate from established norms in granting concessions, they remained in constant communication with the company even during an official business delegation in the United States.
Addressing Pai's statements, Minister Patil suggested that Pai might not be aware to all the recent developments. He assured that the Commissioner for Industries and Commerce would provide him with a comprehensive overview of the situation.
He said that the state has been at the forefront in attracting investment and proposals worth Rs 25,000 crores are in the pipeline. (ANI)