HD Kumaraswamy backpedals on subsidy, says was calling for ‘balanced approach’ – ET Auto

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HD Kumaraswamy backpedals on subsidy, says was calling for ‘balanced approach’ – ET Auto


Kumaraswamy – whose JDS is a BJP ally – reassured stakeholders that the Centre remained committed to creating a favourable environment for domestic companies while also bolstering the local semiconductor industry.

A day after questioning the subsidy to Micron Technology, Union minister HD Kumaraswamy went into damage-control mode, saying his comments weren’t meant to criticise the incentives but to highlight the need for a more balanced approach.

Union steel and heavy industries minister HD Kumaraswamy went into damage-control mode Saturday following his comments the day before questioning the rationale behind granting a INR 3.2 crore subsidy for every job US semiconductor-maker Micron Technology creates at its upcoming Gujarat plant.

Taking to social media with a resolve to exercise “utmost prudence” with his views in the future, he said his comments were not meant to criticise the financial incentives lined up for Micron, but to highlight the need for a more balanced approach in supporting domestic and foreign investments.

Kumaraswamy – whose JDS is a BJP ally – reassured stakeholders that the Centre remained committed to creating a favourable environment for domestic companies while also bolstering the local semiconductor industry.

“Semiconductor is an important industry. It is a fundamental prerequisite for electronics and automobile manufacturing. Both these sectors generate substantial employment. I appreciate the semiconductor-related initiatives taken by @PMOIndia and will endeavour towards fulfilling them through my ministry,” he posted on X.

“The rationale behind this is not justifiable as we have been investing INR 3.2 crore for each job,” Kumaraswamy said on Friday.

  • Published On Jun 16, 2024 at 02:56 PM IST

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