Govt responded quickly to Kayne’s Technologies, says K’taka minister Patil

Bengaluru, Oct 27 (SocialNews.XYZ) Karnataka Large and Medium Industries Minister M.B Patil on Friday said that the government had responded quickly to the proposal by Kaynes Technologies India Limited to set up its unit in the state.

Earlier, industry expert Mohandas Pai had 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 in Karnataka due to a delay in response by the state government.

Patil said that 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 it.

He said that there is not even a minor lapse by the government in responding to the company's proposal.

He said that the company representatives had discussed the proposal with the Chief Minister but they may have decided to go to Telangana owing to its' own reasons.

“The company might have expected much more concessions. But, we can not violate the set norms while awarding concessions,” the Patil said.

He said that we were in touch with the company even when we were in America on a business delegation.

He said that Mohandas Pai might not be aware of all these developments but the Commissioner for Industries and Commerce will apprise him of the entire happenings.

He said that the state has been at the forefront in attracting investment and proposals worth Rs 25,000 crores are in the pipeline.

Source: IANS