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Asian Paints not going to Andhra Pradesh

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Karnataka Chief Minister Siddaramaiah on Wednesday dismissed reports that Asian PaintsBSE 0.49 % was planning to take its proposed investment to Visakhapatnam in Andhra Pradesh at the invitation of N Chandrababu Naidu. “Asian Paints is not going anywhere,” the CM said in reply to a question at the Press Club here.

The paint manufacturer has proposed Rs 2,300 crore investment in the CM’s native district of Mysuru. “The company is asking for certain incentives and concessions, and the government is examining those requests,” a senior government official said.

Bengaluru remained the favourite destination for the e-commerce firms, and even Amazon and Flipkart are not going anywhere.

“Karnataka is the most preferred destination for investors,” Siddaramaiah said, and added that in the last two years, he had cleared investment proposals worth Rs 95,989 crore that promised to create 2.27 lakh new jobs. In reply to a question on how Prime Minister Narendra Modi treated Karnataka, the CM said the PM had not been “vengeful” against Karnataka.

“There has not been any incident in the past one year that soured the relationship between Karnataka and the Centre. The PM has not shown any vengeance against Karnataka,” Siddaramaiah said.

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