August 2021 \ Business & Investment \ INVESTMENT—TELANGANA
“Single window a thing of past”

Estranged Kerala businessman Sabu Jacob ...

Kerala is lagging behind in industrial growth and the attitude of the rulers and the bureaucracy is the reason behind this, he had said. Jacob and his establishment saw 11 teams of officers from various departments raiding the company in the past one month. The company employees were also grilled for hours. It was then that Jacob had announced that he will move out of the state, following which offers poured in from nine states.

“I don’t think we need to reply to baseless destructive comments and the best policy is to remain silent, as it will be of no good to Kerala” —P. Rajeev, State Industries Minister

Even while the present controversy is continuing in Kerala, the share value of Kitex continues to rise and after his arrival in Telangana and his announcement of investment there, it, in a matter of two days, rose by Rs 28 to touch Rs 168.

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