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The Federation of Andhra Pradesh Chamber of Commerce and Industries (Fapcci), a representative body of trade and commerce in the State, today said that more than 60 companies have decided to set up facilities in other States due to ongoing agitation and political uncertainty causing loss to State and impacting the economy.
Bandhs and agitation in support of separate statehood of Telangana conservatively result in financial loss of about Rs 200 crore a day. Seventeen days of bandh has had a major impact.
The State has lost more than 20,000 manufacturing sector jobs and over 40,000 jobs in the services sector, including IT and BPO in the last 12 months, according to Fapcci.
Addressing a press conference here today, the President of Fapcci, Mr V.S. Raju, and the Senior Vice-President, Fapcci, Mr Devendra Surana, said the business sentiment has been affected. Companies are not willing to set up base in Hyderabad or other attractive locations in the State, and are instead going to Pune, Bangalore, Chennai and Gurgaon.
Xerox, Convergys, Quad Cable, Surana Group, Kedia Infotech are among those that have opted for other locations. Automotive company Peugeot and some ancillary units are undecided due to the strike and uncertainty.
"Several other companies who are opting for other States do not want us to comment," he said.
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