‘Baseless’, says G Parameshwara on FM Nirmala Sitharaman’s statement on companies wanting to leave Karnataka

PTI, Jul 29, 2024, 7:53 PM IST

Bengaluru: Terming as “baseless” Union Finance Minister Nirmala Sitharaman’s statement about industries allegedly wanting to leave the state due to deteriorating law and order situation, Karnataka Home Minister G Parameshwara on Monday said, no such case has been reported.

He said companies that are looking for investment opportunities usually keep their options open, based on certain parameters that benefit them.

The Home minister was reacting to a question on Sitharaman’s statement that due to worsening law and order situation, industries are scared and they want to get out. She, however, did not reveal the names of such companies.

“For various reasons, the companies looking for investment, will keep options open and come (with investment proposal), they might have Chennai as the option, also Karnataka and Maharashtra. They usually keep options open based on the parameters that benefit them like – tax structure, power tariffs, free land among other things,” Parameshwara said.

Speaking to reporters, he said, “Based on the parameters the companies will decide, and so far no one has said they want to exit the state, after having come to the state.”

“Unnecessarily making baseless allegations from the Centre is not right. We have to develop Bengaluru as a prestigious city of the country and the mindset to stop its progress as the city belonging to Karnataka, is not a good development,” he added.