Andhra industry skeptical

Comments 0
Andhra industry skeptical	Andhra industry skeptical
SummaryIndustry in Andhra Pradesh, particularly Hyderabad, was skeptical after the announcement of Telangana

Industry in Andhra Pradesh, particularly Hyderabad, was skeptical after the announcement of Telangana. Hit by power outages, production loss, and stagnant real estate, industry captains felt the decision may have ended uncertainty but a positive impact is yet to be seen. They feel Brand Hyderabad has lost sheen in the last five-six years and the division of the state is a wound that will take time to heal.

“Unless both states are finally formed, a host of issues are settled and there is stability in the two states and the to-be shared capital Hyderabad, the industry is not expected to come out of the last couple of years’ slump. Brand Hyderabad, which has suffered due to controversy over the division, will take time to heal, say experts. The slump in industrial growth will continue for at least a year after the states are in place. The industry will wait and watch what is churned out in terms of infrastructure, policy and incentives,’’ said Chairman CII AP, Ashok Reddy.

The AP Chapter of CII has called a meeting in two days. “We have to wait and see what is going to happen. It is good a decision has been taken but our concern is more on what is going to happen,” said Reddy.

The IT and ITES Industry Association said the decision will be positive for the IT industry. Brand Hyderabad, going strong until a decade back, has taken a beating and it will take time and hard work to reconcile investor confidence. “It is too early to say how the industry will be impacted but certainly, the atmosphere will be calm since the decision is made. There will be issues about sharing resources and revenue but ultimately, the standstill for brand Hyderabad will be end with better business atmosphere. It will take time to undo the damage. That will not be diluted overnight and the industrial sector will have to work hard to rebuild confidence,” said Vice President of FAPCCI (Federation of Andhra Pradesh Chambers of Commerce and Industry), V Anil Reddy.

Ads by Google

More from National Network

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...