GG News Bureau
Bengaluru, 18th July. PhonePe CEO and co-founder Sameer Nigam has publicly opposed the Karnataka government’s proposed private jobs quota bill, which seeks to reserve a substantial portion of jobs in the private sector for locals.
In a post on X, Mr. Nigam, who claims to have created over 25,000 jobs across India through his companies, criticized the bill as unfair to individuals like him who have lived in multiple states due to their parents’ work. “I am 46 years old. Never lived in a state for 15+ years. My father worked in the Indian Navy. Got posted all over the country,” he wrote. He questioned whether his children, who have grown up in Karnataka, “don’t deserve jobs in their home city,” despite his contributions to employment nationwide. “Shame,” he added.
I am 46 years old. Never lived in a state for 15+ yrs
My father worked in the Indian Navy. Got posted all over the country. His kids don't deserve jobs in Karnataka?
I build companies. Have created 25000+ jobs across India! My kids dont deserve jobs in their home city?
Shame.
— Sameer.Nigam (@_sameernigam) July 17, 2024
The Karnataka State Employment of Local Candidates in the Industries, Factories and Other Establishments Bill, 2024, was proposed on July 16. It mandates reserving 50% of management-level jobs and 70% of non-management-level jobs for locals. State Industries Minister M B Patil stated that the policy aims to protect the interests of Kannadigas while considering the needs of industries. IT Minister Priyank Kharge added that the bill’s primary objective is to create more job opportunities for locals.
However, industry stakeholders have expressed concerns about the bill’s potential impact on the state’s economy, startups, and IT companies. NASSCOM warned that the restrictions could drive startups and IT companies out of Karnataka, leading to a loss of investment and jobs.
TV Mohandas Pai, a partner at Arin Capital and former CFO of Infosys, labeled the bill as “regressive, unnecessary, draconian, unconstitutional, and illegal.” Biocon chairperson Kiran Mazumdar-Shaw stated that the bill could harm Karnataka’s leading position as a tech hub and affect the availability of skilled talent. While IT giants might have the resources to relocate to neighboring states, smaller Bengaluru-based players may not, potentially placing them at a disadvantage.
Following severe backlash, the bill has been put on hold.
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