Ex-industries minister says companies may walk away from Karnataka, urges CM to woo investors

Former state industries minister R V Deshpande has urged Chief Minister B S Yediyurappa to step up efforts to woo investors to Karnataka before it’s too late, amid major companies like Tata and Ola recently opting to establish their manufacturing plants at Tamil Nadu’s Hosur, the industrial town bordering Karnataka.

“Karnataka is the leader in Electronic component and automobile industry. Tata Group considers Karnataka as home for investment. Karnataka is the first state to announce EV policy in the country. In spite of this, in the last eight days, two major corporates Ola and Tata have announced investments in the neighbouring state,” the senior Congress leader said in a press release, raising concerns over Karnataka losing out on investments.