T agitation losses touch Rs 10,000 Cr

Leading industry body Assocham on Wednesday claimed that the renewed struggle for statehood Telangana region groups in the past two weeks has already resulted in a tangible loss of goods and services in excess of Rs 10,000 crore.

According to the Associated Chambers of Commerce and Industry of India (Assocham) secretary general DS Rawat, the opportunity losses due to the general strike could be even higher. “Sectors like IT/BPO, KPO, manufacturing, power and hospitality are the worst hit which may shake the overall business environment,” he said.

The ‘Sakala Janula Samme’ has led to frequent power outages and the public transport system has come to a virtual standstill. This has pushed up industrial costs by over 15 per cent and dented Andhra Pradesh’s image as a lucrative investment destination, Rawat said.

Assocham has appealed to the Centre and state government to take urgent measure to ensure there are no disruptions in terms of industrial production and the businesses are least impacted. Rawat apprehended that such strikes could also result in massive job losses and social unrest.