Karnataka Dismisses Finance Minister's Claims on Industry Exodus

Karnataka Home Minister G Parameshwara refutes Union Finance Minister Nirmala Sitharaman's allegations about industries leaving the state due to poor law and order. He asserts no such cases have been reported and emphasizes the factors companies consider when investing. Parameshwara criticizes unfounded claims and stresses Bengaluru's development.

Karnataka Home Minister G Parameshwara has refuted Union Finance Minister Nirmala Sitharaman's claims that industries are planning to exit the state due to a deteriorating law and order situation. Parameshwara stated that no such cases have been reported.

He clarified that companies looking for investment opportunities usually keep their options open based on various parameters like tax structure, power tariffs, and free land among others. These factors help them decide between locations such as Chennai, Karnataka, and Maharashtra.

Reacting to Sitharaman's statement, Parameshwara criticized the baseless allegations from the Centre and stressed the importance of developing Bengaluru as a prestigious city. He emphasized that no company has expressed a desire to leave Karnataka after investing in the state.