HD Kumaraswamy Clarifies Remarks on International Investments in Gujarat
HD Kumaraswamy Clarifies Remarks on International Investments in Gujarat

Bangalore: Union Steel and Heavy Industries Minister HD Kumaraswamy clarified his recent remarks questioning the need for international investments in Gujarat, emphasizing that semiconductors are a "strategic industry" crucial for generating substantial employment. He also praised Prime Minister Narendra Modi's initiatives related to the semiconductor sector.

In a post on X, Kumaraswamy stated, "Semiconductors are a strategic industry. They are essential for electronics and automobile manufacturing, both of which generate significant employment. I greatly appreciate the semiconductor-related initiatives taken by @PMOIndia and will work towards fulfilling them through my ministry."

On Friday, Kumaraswamy had questioned the need for investments like US-based Micron Technology's $2.5 billion semiconductor unit in Gujarat, highlighting the subsidy cost of ₹3.2 crore per job created.

Clarifying his statement on Saturday, Kumaraswamy told the media, "Bringing the semiconductor sector to India is strategic and necessary. Simultaneously, we need to create jobs in the small-scale industry sector. My statement was misquoted; I did not mention any state. I need to be more cautious in the future."

In a live televised show on Friday, Kumaraswamy, as quoted by the Times of India, said, "The new manufacturing unit will generate about 5,000 jobs, with $2 billion in subsidies provided. This accounts for 70% of the company's total investment. I questioned officials on the justification of allocating such a significant amount of funds. In contrast, small-scale industries in places like Peenya, Bengaluru, create many more jobs without similar benefits. We need to contemplate how to protect the nation's wealth."

HD Kumaraswamy, former Karnataka Chief Minister and Janata Dal (Secular) leader, was recently appointed Minister of Heavy Industries and Steel. Following his appointment, he expressed his gratitude to Prime Minister Narendra Modi for the position in the National Democratic Alliance (NDA) government in its third term.

Kumaraswamy won the Mandya constituency in Karnataka, defeating Congress' Venkataramane Gowda, also known as Star Chandru, by a margin of over 2.84 lakh votes. Kumaraswamy secured over 8.51 lakh votes, while Gowda received 5.67 lakh votes.

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