Kaynes semiconductor row: Sridhar Babu accuses KTR of misleading public

Hyderabad: Telangana industries minister D Sridhar Babu has accused BRS working president KT Rama Rao (KTR) of deliberately spreading misinformation regarding the Kaynes Technology semiconductor project being shifted to Gujarat. He called the claim that Telangana lost the project due to govt failure "an outrageous lie" and described KTR's remarks as a "cheap attempt to deflect blame and cover up his own shortcomings."In a statement issued on Tuesday, Sridhar clarified, "Kaynes did not ‘flee' Telangana. The project was drawn to Gujarat because the Central govt and the BJP-led Gujarat govt offered massive subsidies. KTR is fully aware of this, yet he continues to mislead the people of Telangana with baseless allegations."He pointed out that the Centre approved a 50% subsidy under the India Semiconductor Mission (ISM) for the Kaynes project in Sanand, Gujarat. The 76,000 crore ISM scheme was designed to promote semiconductor manufacturing in India, and once it became known that units in Gujarat would automatically qualify for a 50% subsidy, semiconductor firms naturally gravitated toward the state.For its 3,307 crore investment, Kaynes received an extraordinary 1,654.5 crore subsidy from the Centre. The Gujarat govt added another 40% of the central subsidy amounting to 661 crore, bringing the total subsidy package to approximately 2,314.9 crore, or nearly 70% of the project's cost, the minister said.He criticised the Centre for failing to extend similar support to other states, claiming that only Gujarat receives such "stepmotherly favoritism."He added, "Semiconductor companies are naturally drawn to Gujarat because of the clear message that the state will fully support central subsidies. This blatant partiality is something the BJP must answer for."Sridhar Babu further criticized KTR for remaining silent on the Centre's bias, saying, "Instead of questioning the BJP's favoritism, KTR chooses to attack the Telangana govt. His silence on the Centre's role only highlights his lack of courage.MSID:: 123388303 413 |