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As sectarian tensions rise in Karnataka, IT companies reach out to Tamil Nadu seeking investment

New Delhi: in the middle of a series of Developments that led to sectarian polarization in Karnataka, many information technology (Information Technology) based companies out of I arrived in Bengaluru out To the Tamil Nadu government trying to change their business, ThePrint has learned.

sources in Tamil Nadu government He told ThePrint that inquiries from IT companies have begun in “in Last times’, but the companies didn’t offer anything reason for Their plan to transform out of Karnataka.

in an interview with ThePrint, Tamil Nadu Finance Minister Palanivel Thiagarajan (PTR) also said that IT companies have been showing “great benefit” in his state, and that’s a lot of With them wanted to set up shop in Tamil Nadu. However, he refused comment on Whether these companies are coming from Karnataka or from elsewhere.

“There is a lot of interest, and so are we already in The race. there people Actively raise this with us and us government Works on He told ThePrint.

In Delhi to meet Federal Finance Minister Nirmala Sitharaman as well as opening office of for him partyDravida Munnetra Kazhagam (DMK), PTR also He said that Tamil Nadu government will soon host investor events in multiple countries Abroad, namely Singapore and the United States of America and the United Kingdom, for appetizers.

If we invest one rupee in Capital investment, we want to match who – which with foreign investment” added.

He said that his country is following developments in neighboring Karnataka, and that “every threat must be taken seriously”.

Reports of IT companies want to transform their business out of Karnataka comes at a time when the state is the epicenter of number of Campaigns that inflame sectarian tension, whether the dispute over the veil or the controversy over “Halal” meat boycott of Muslims at Karnataka temple fairs and festivals, attacks on Christians and Hindu vigilante groups abuse couples of different faiths.

About a week ago, Kiran Mazumdar Shaw, CEO of Biocon Ltd. also urging Karnataka Chief Minister Basavaraj Bommai’s resolve ‘Collective exclusion’ and ‘growing religious division’ in the state. She said that the state global Leadership in ITBT (information technology And business transformation) is at stake.

Mazumdar Shaw’s statements did not go down we will with The ruling Bharatiya Janata Party. Amit Malvia head of BJP national information And technology  department, sections, chirp It was a pity to see people like Kiran Shaw impose and confuse their politically colored personal opinion with India’s leadership in ITBT sector”.

Karnataka, which is considered as the “IT Hub” of India, is home To the world’s fourth largest technology Cluster, and has multiple industries in proces. These include automobiles, textiles and clothing, biotechnology, agro-industry, and heavy engineering. The country has a specific sector special Economic Zones for Information technology, biotechnology, food processing, aviation and engineering as well.

Meanwhile, Tamil Nadu also home for many industries including automobiles, chemicals, petrochemicals, iron and steel, heavy engineering, electronics, agriculture, food processing, financial technology, aerospace, biotechnology, technical textiles, glass, ceramics, and electricity vehicle manufacture of batteries, textiles and apparel.


Read also: ‘Road rage murder takes place in a community development: Why Karnataka Police fact-verification home minister & others


Attracting foreign investment

Tamil Nadu government Proactively attract foreign investment. Chief Minister MK Stalin went to the United Arab Emirates. in March where he signed the notes of Understanding (MoUs) worth 6100 crores with six Companies targeting creating 14,700 jobs.

In the United Arab Emirates, Stalin said that despite the Covid-19 pandemic, since he took office in May 2021, the country signed 124 memoranda of understanding to attract investment of 8 billion dollars and creating Employment Opportunities for 20000 people.

In January, Tamil Nadu was declared the “most attractive investment destination”, after netted Investments worth 1,43,902 crore from April to December 2021.

report from Today’s projects – a online Database on project Investments in India – reported that Tamil Nadu has registered a net he won of 1,07,610 crores worth of Investments in April – December 2021, compared to investment of I got 36,292 crores in The same period as before year.

at second Gujarat was with a net he won of 77892 Crore then Telangana with a net he won of 65,288 crore rupees.

Fintech companies like PayPal, BankBazaar, and e-vehicle Manufacturers such as Ather Energy, Ampere, DP Auto and IT companies such as Infosys and Microsoft have invested in the state.

disclosure: Kiran Mazumdar Shaw is among the distinguished institutional investors of printing. please click here for details on investors.

(Edited by Gitanjali Das)


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Sallie Anderson
Sallie Anderson
Sallie works as the Writer at World Weekly News. She likes to write about the latest trends going on in our world and share it with our readers.

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