PhonePe CEO apologises for lashing out at Karnataka reservation bill

If my comments hurt anyone's sentiment, I am truly sorry and would like to offer you an unconditional apology: PhonePe's Sameer Nigam

Sameer Nigam, chief executive officer and founder of fintech giant PhonePe, on Sunday evening, offered an unconditional apology if his recent statement related to Karnataka's job reservation bill had hurt anyone’s sentiments.

Nigam recently voiced strong opposition to the Karnataka government’s proposed private jobs quota bill, which seeks to reserve a substantial portion of private sector jobs for locals.

Though Karnataka has paused the bill after pushback from tech companies, Nigam of PhonePe has drawn the ire of many Kannadigas following his criticism of the state government's proposed job quota bill.

“I read some recent media articles, relating to a few personal comments that I made last week regarding the draft job reservation bill. I would first and foremost like to clarify that it was never my intention to insult Karnataka and its people,” said Nigam on Sunday. “If my comments hurt anyone’s sentiments in such a way, I am truly sorry and would like to offer you an unconditional apology. I have the highest regard for Kannada, and all other Indian languages. In fact, I truly believe that linguistic diversity and rich cultural heritage are a national asset that all Indians should be proud of; and all Indians should be respectful of and celebrate local and cultural norms,” said Nigam.

 

Earlier, in a post on X, Nigam, who has created over 25,000 jobs across India through his ventures, described the bill as unfair to individuals like him who have lived in various states due to their parents’ employment.

“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 further questioned the bill’s fairness, pondering whether his children, who have grown up in Karnataka, do not deserve jobs in their home city despite his contributions to employment nationwide. ‘Shame’, he said on X.

The Karnataka State Employment of Local Candidates in the Industries, Factories and Other Establishments Bill, 2024, was proposed on July 16. It mandated reserving 50 per cent of management-level jobs and 70 per cent of non-management-level jobs for locals.

Industry body National Association of Software and Service Companies (Nasscom) warned that the restrictions could drive startups and IT companies out of the state, leading to a loss of investment and jobs. Kiran Mazumdar-Shaw, the founder of Biocon, also expressed her disapproval of the proposal.

Nigam on Sunday said that PhonePe was born in Bengaluru. He said the firm is proud of its roots in this city, which is well known for its world-class technology talent and vibrant diversity. From Bengaluru, over the past decade, he said PhonePe has expanded across the length and breadth of India and been able to deliver secure and efficient digital payments for over 55 crore Indians.

He said that Bengaluru's reputation as the "Silicon Valley of India" is truly well-deserved. The city thrives on an incredible culture of innovation, and attracts the most brilliant young minds from Karnataka and the rest of India. Nigam said the firm is deeply grateful for the supportive business environment that Karnataka’s governments and its local Kannadiga populace have offered it. “Without such an inclusive ecosystem and progressive policies, Bengaluru would not have become a global technology superpower,” said Nigam.

“As a company, we also thrive on celebrating diversity; we have always tried hard to deliver fair, unbiased and meritocracy-based employment opportunities for all Indians - including to all local Kannadigas,” said Nigam. “We believe such an approach gives every Indian a good job a chance to shine, and ultimately helps create more societal and economic value for Bengaluru, Karnataka and India.”

Nigam said that Bengaluru’s Indian startups are competing against trillion-dollar giants like Google, Apple, Amazon, and Microsoft. To do so, he said these companies must be able to employ the very best talent available in India purely based on their technology skills and proficiency in fields such as coding, design, product management, data sciences, machine learning, AI, and beyond.

“As a nation, that is the only way we can build world-class companies that can compete in the global village that we live in today,” said Nigam. “I also want to help create lakhs of jobs for Bengaluru and Karnataka. And, I believe with more dialogue and discussion, we can find ways to create more sustainable employment avenues. Let’s all work together to do this meaningfully and while creating long-term impact.”