Dead heat for foreign investment as Congress takes charge of Karnataka

The party is expected to continues policies designed to woo the world's biggest industries

For the new Congress government in Karnataka there shall be little time to lose in getting foreign investments for the state.

Apple supplier Foxconn broke ground on Monday for a production plant near Hyderabad, strengthening Telangana Chief Minister K Chandrasekhar Rao’s investment plans. The plant will employ more than one lakh people and Foxconn will reportedly invest $500 million on it. Just months before losing elections in May, the BJP government in Karnataka announced clearing a Rs 8,000 crore investment plan. Foxconn had not confirmed the investment.

Another Apple supplier Pegatron is soon expected to announce its expansion plans. Pegatron