New Delhi:
PhonePe CEO and co-founder Sameer Nigam has opposed the Karnataka government’s private jobs quota bill, which aims to reserve a significant portion of jobs in the private sector for locals.
In a post on X, Mr Nigam, who said he has created over 25,000 jobs across India through his companies, argued that the bill was unfair to people 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 on X.
He questioned the bill, asking whether his children, who have grown up in Karnataka, “don’t deserve jobs in their home city,” despite him creating employment opportunities all over the country.
“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
What Is Karnataka Job Quota Bill?
The Karnataka State Employment of Local Candidates in the Industries, Factories and Other Establishments Bill, 2024, was proposed on July 16. The bill mandated reserving 50 per cent of management-level jobs and 70 per cent of non-management-level jobs for locals.
State Industries Minister M B Patil said that the policy aims to protect the interests of Kannadigas while also considering the needs of industries.
IT Minister Priyank Kharge said that the bill’s primary objective is to create more job opportunities for locals.
Why Karnataka Job Quota Bill Is Being Opposed
Industry stakeholders believe the bill could have far-reaching consequences for the state’s economy, startups, and IT companies. The industry body NASSCOM said that the restrictions could drive startups and IT companies out of the state, leading to a loss of investment and jobs.
The bill could lead to a scarcity of skilled talent in the state, as companies may struggle to find local candidates with the required skills, as per reports.
TV Mohandas Pai, the partner at Arin Capital and former CFO of Infosys, called the bill “regressive, unnecessary, draconian, unconstitutional, and illegal”.
Biocon chairperson Kiran Mazumdar-Shaw said that the bill could hurt the state’s leading position as a tech hub, adding it may affect the availability of skilled talent. While IT giants may have the resources to shift to neighbouring states, smaller players based in Bengaluru may not have the same option, which could lead to a disadvantage for them.
Following this severe backlash, the bill has now been put on hold.