A social media post claiming that in a span of two months, 317 foreign companies have moved out of Karnataka is being widely circulated across all platforms. The claim is shared in the backdrop of growing communal tensions in the state. Through this article let’s fact-check the claim made in the post.
Claim: In a span of two months, 317 foreign companies have moved out of Karnataka.
Fact: Lately, Karnataka has been witnessing communal tensions. Leaders from the business community have expressed apprehensions over the increasing communal tensions. However, there are no official or unofficial reports of companies in such large numbers moving out of the state as claimed in the post. Moreover, it is noteworthy to mention that Karnataka witnessed the highest inflows of FDI during the financial year 2021-22. Hence the claim made in the post is FALSE.
Lately, Karnataka has been witnessing communal tensions, starting with tensions over a government order banning Muslim women from wearing hijab to educational institutions, followed by Muslim traders being barred at temples during religious fairs, and the latest one calling for a boycott of halal meat.
In wake of these communal tensions, a couple of leaders from the business community have expressed apprehensions over the increasing communal tensions (here & here). Kiran Mazumdar Shah took to Twitter to express concern over the increasing communal divide in the state.
However, there are no official or unofficial reports of such a large number of companies moving out of the state lately as claimed in the viral post. If companies in such large numbers have indeed moved out of the state, the media would have reported it. However, there are no such reports.
Further, as per the latest available information, Karnataka has witnessed the highest inflows of foreign direct investment (FDI) in the country. Moreover, according to the Maharashtra Economic survey report, Karnataka leads with Rs 1,02,866 crore FDI inflow in 2021-22.
To sum it up, the claim stating 317 companies have already moved out of Karnataka amidst growing communal tensions has no basis.