Hyderabad could have lost around 20,000 jobs in the manufacturing sector and more than double in the services sector in the last one year, according to industry body Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci).
The industrial production in Hyderabad has been disrupted for 17 days over the last one year due to bandhs called for over the Telangana issue.
“The bandhs are having both short and long-term impact on the trade and industry in the city. The city is losing its appeal as a prime investment destination,” said Devendra Surana, senior vice-president of the Fapcci on Thursday at a press conference on ‘Impact of Bandhs’.
No new marquee companies were coming to Hyderabad, he said adding that some companies based in Hyderabad are planning to shift their base to outside Andhra Pradesh.
“Around 1,000 jobs were lost in the manufacturing sector just because three firms — Xerox, Quad Cables and Surana’s automotive division— have decided to shift their operations out of the city,” he said.
On the services side, Intelligroup and Convergence deferred their plans to set up 1,200-seater facilities each, he said adding that a one-day bandh would cost around Rs 530 crore to the Hyderabad industry. There have been 17 bandhs over the last one year putting the loss Rs 9, 010 crore.
The industrial production in Hyderabad has been disrupted for 17 days over the last one year due to bandhs called for over the Telangana issue.
“The bandhs are having both short and long-term impact on the trade and industry in the city. The city is losing its appeal as a prime investment destination,” said Devendra Surana, senior vice-president of the Fapcci on Thursday at a press conference on ‘Impact of Bandhs’.
No new marquee companies were coming to Hyderabad, he said adding that some companies based in Hyderabad are planning to shift their base to outside Andhra Pradesh.
“Around 1,000 jobs were lost in the manufacturing sector just because three firms — Xerox, Quad Cables and Surana’s automotive division— have decided to shift their operations out of the city,” he said.
On the services side, Intelligroup and Convergence deferred their plans to set up 1,200-seater facilities each, he said adding that a one-day bandh would cost around Rs 530 crore to the Hyderabad industry. There have been 17 bandhs over the last one year putting the loss Rs 9, 010 crore.
