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Our Bureau

Kochi, Nov. 2 Protest is brewing in the industrial circles in Kerala over the frequent hartals called by various political parties and trade unions, as it is affecting the economic growth of the State.

The Confederation of Indian Industry in a statement issued here pointed out that hartals are in large numbers in Kerala and it is badly affecting the investment potential of the State. On an average, the total loss of production would be to the tune of Rs 650 to 700 crore per day due to strikes and hartals.

The hardest hit are the poorer sections of Kerala society like headload workers, farm labourers, auto and taxi drivers and those who deal in perishable goods.

According to CII, the industry is facing stiff competition in a gloablised economy, which calls for best manufacturing practices.

Frequent strikes and hartals affects competitiveness of the industry, as it has to bear the cost of the incremental increase of stocking of additional raw materials including demurrage, which would be 4 to 8 per cent of the cost of production.

More Stories on : Industry Associations | Kerala | Politics

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