BENGALURU: Eyewear major Lenskart will set up the largest eyewear manufacturing facility in Telangana with an investment of nearly Rs 1,500 crore.
This new facility will create 2,100 jobs. Telangana IT minister Duddilla Sridhar Babu on X announced that an MoU has been signed with Lenskart and that the facility will produce eyewear, lenses, sunglasses, as well as accessories and other products catering to India, along with exports to other markets in Southeast Asia and the Middle East.
“The facility will be established at Fab City, where land has already been identified and will be handed over to the company this week,” he said on X.
Lenskart had originally sought land for a mega factory near Bengaluru in April. In a post on social media, the company’s co-founder and CEO Peyush Bansal requested for land near Bengaluru airport and immediately Karnataka Industries Minister MB Patil had responded saying Karnataka is the ideal destination and that the department is committed to supporting and facilitating all your requirements.
But the state missed the opportunity as Lenskart will now set up the facility in Telangana. Meanwhile, on Monday, minister Patil refuted the charges of Karnataka’s loss and said that the government of Karnataka, under his leadership as the industries minister, has always prioritised fostering a business-friendly environment balanced with responsible fiscal management.
“However, as custodians of taxpayers’ resources, we are committed to making prudent decisions that maximize long-term benefits for both the state and its people. Incentives by a state govt. are provided only to reduce the burden on investors and increase financial viability of the project. However, more recently, certain investors have been asking for incentives amounting to 100% of their investment,” he said.