As Lenskart Picks Telangana For Investment, Karnataka Minister Gives 'No Undue Advantage To Private Enterprise' Clarification

A day after eyewear manufacturer Lenskart signed a Memorandum of Understanding (MoU) with the Telangana government, Karnataka's Industries Minister M B Patil responded to the development.

This is because Lenskart was earlier in talks with the Karnataka government for a 25-acre plot of land for a 'mega factory' within 60 Km of Kempegowda International Airport (KIA) in Bengaluru.

However, those talks appear not to have materialised, despite Patil assuring Lenskart founder Peyush Bansal of supporting and facilitating all requirements and directing concerned officials to 'reach out immediately.'

Subsequently, on 8 December, Lenskart agreed to establish a manufacturing facility at Fab City in Telangana with a cost of approximately Rs 1,500 crore. The project is predicted to create around 2,100 jobs.

Responding to this, Patil said, "We are here to support private enterprises, yet at the same time not let any private profit motivated enterprise take undue advantage of state exchequer."

Refuting the charges that this is Karnataka's loss, he said, "I as industries minister have taken steps to create confidence and make several structural reforms to the state industries department."

"All industrialists are aware that our door is open for any of their concerns or expansion plans... The state filled with talent, and our government provides various subsidies for companies to prosper," he added.

He reiterated that the Karnataka government will 'go the extra mile, wherever the benefits for State vis-a-vis Private Enterprise are a two-way stream,' suggesting that Lenskart's offer was exploitative in nature.