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Tamil Nadu govt invites Kitex to set up textile unit

Jul 07, 2021
Tamil Nadu govt invites Kitex to set up textile unit

The government of Tamil Nadu has formally invited garment firm, Kitex Group to start its business and has also offered tax benefits to the firm.

Sabu Jacob, the Managing Director, Kitex Group, has given a statement that the government is carrying out continuous inspections and had also been questioning the employees of the company. Due to this reason, the group had withdrawn Rs 35 billion worth project in Kerala. A letter by the vice president of the Tamil Nadu Industries Minister has been rolled out to the Kitex Group. The government has also put forward 8 other offers including low-interest rate, subsidy, payment of 20% salary of staff, and 100% subsidy on stamp duty. The group is yet to take a final decision regarding carrying out business activities in the neighbouring state.

According to Sabu, he was forced to issue a press note due to repeated harassment by different departments of the government. He also quoted that 11 teams had raided the premises. Also, 5 states have contacted the group to open garment units in those states. As per experts, Sabu was targeted because of his political affiliations.

As soon as the group announced to pull out the investment from Kerala, the Tamil Nadu government had invited Kitex to offer a conducive business environment with low-interest rates and other benefits. 

Source – Times Now News

Image Source: Wikipedia

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