PhonePe founder Sameer Nigam on Wednesday criticized Karnatakas Private Sector Quota Bill, which mandates private companies to reserve 75% of jobs for local residents. Nigam expressed concerns that this bill could hinder the states growth and innovation by limiting the talent pool available to companies.Taking it to his official X handle, he argued that the focus should be on creating a conducive environment for businesses and startups, which in turn would create more job opportunities for everyone, rather than imposing such quotas. This criticism reflects broader concerns within the business community about the potential negative impact of such reservation policies on industry and economic development.I am 46 years old. Never lived in a state for 15+ yrsMy father worked in the Indian Navy. Got posted all over the country. His kids dont deserve jobs in KarnatakaI build companies. Have created 25000+ jobs across India! My kids dont deserve jobs in their home cityShame.— Sameer.Nigam (@_sameernigam) July 17, 2024It is important to note Nigam is not the only one who has criticized the bill, the decision has been lamblast by many on the social media handles. This has come after Siddaramaiah, the chief minister of Karnataka on Tuesday approved the bill to make reservations in jobs for Kannadigas in private sector organizations, industries and enterprises mandating 100 per cent reservation for C and D-grade posts in the cabinet meeting.However, after facing a backlash from several people about their rights, the state government has put the quota on hold. Taking it to his official X handle, the chief minister announced the same. The draft bill intended to provide reservations for Kannadigas in private sector companies, industries, and enterprises is still in the preparation stage.A comprehensive discussion will be held in the next cabinet meeting to make a final decision.— Siddaramaiah (@siddaramaiah) July 17, 2024Karnataka minister Priyank Kharge responded to the same by saying, The labor department has brought in the bill. They are yet to consult with the industry, the Minister of Industry and the Department of Information Technology. Im confident that they will properly confer with the relevant ministries and, more significantly, engage with the industry more broadly before developing the bills regulations. Thus theres no reason to freak out. Were going to protect state employment while also promoting industry investment through industry consultation.#WATCH | Bengaluru: Karnataka minister Priyank Kharge says, The bill has been brought in by the labour department. They are yet to consult with the industry, the Minister of Industry and the Department of Information Technology. I am sure that before coming up with the rules of… https://t.co/qDQgUeSAXx pic.twitter.com/ViUJYPUGbS— ANI (@ANI) July 17, 2024
