Subsidies: Videocon mulls Rs 1000 crore fab facility

BS reports

The Videocon group, the country’s largest consumer electronics and durables manufacturer, is contemplating setting up a semiconductor facility. The fast moving consumer goods (FMCG) major, which intends to invest upwards of Rs 1,000 crore in the proposed facility, is currently in the process of evaluating various locations such as West Bengal.

“We have already signed an NDA (non-disclosure agreement) with the world’s largest technology patent company for technology partnership and are currently on the lookout for a suitable location. At present, we are looking at opportunities in West Bengal as it is promising better subsidies and infrastructure,” Videocon chairman Venugopal N Dhoot told mediapersons here on Sunday, while declining to disclose the name of the company it had signed the NDA with.

“However, we may consider Andhra Pradesh or any other state if it doles out even more favourable incentives and sops,” he added.

What really surprises me is the righteousness with which these companies demand other people's money. It's almost like a customer asking a shopkeeper, give me a discount, or i will go to next shop. Only in this case, its money that's collected also from poor people.