The Kitex Group has not made any investments in Kerala since the Pinarayi Vijayan-led LDF government assumed office, and the group has currently no plans to invest in the State, said Sabu Jacob, the Managing Director (MD) of the group.
Responding to an earlier statement by Industries Minister P. Rajeeve that the group continued to function in Kerala despite threatening to shift its unit out of the State, Mr. Jacob said the firm needed no one’s blessings to continue its operations in the State.
He accused Mr. Rajeeve of blaming others for ‘camouflaging’ his limitations and shortcomings. “The government and its officials harassed the company. The officials, who conducted continuous raids in the company for nearly one month, could not find any wrongdoing. The company moved its ₹3,500-crore investment out of the State in protest of the harassment,” he said.
Earlier, Mr. Rajeeve had alleged that Mr. Jacob, who also heads Twenty20, a corporate-backed political party, which is ruling the Kizhakkambalam panchayat and had unsuccessfully contested a few seats in the last Parliament election, was making politically-motivated allegations.
Mr. Rajeeve said HCLTech, a global technology company providing IT services and solutions, will open its second unit in Kerala at Thiruvananthapuram on Monday (June 9). Several industry captains had lauded the industry-friendly atmosphere in the State. A few companies will set up shop in the State shortly. Anyone who is attempting to destroy the industry-friendly atmosphere of the State will be answerable to the youth of Kerala. The government is in the process of creating more employment opportunities for the youth in the State itself, he said.
Published – June 08, 2025 09:34 pm IST
