“The bandhs not only have a short-term impact on trade and industry, but they also have long-term effects as the city is losing its appeal as a prime investment destination," said Mr Devendra Surana, senior VP of the Fapcci.
The present condition is, no such company is willing to come to Hyderabad and even the current existing companies in the city are planning to relocate outside the state. Reeling out the statistics, Mr Surana said that around 20,000 jobs have been lost in the manufacturing sector, while the services industry has seen 40,000 jobs moving out of Hyderabad.
“Some don"t want us to name them, but we can tell you that 1,000 jobs were lost in the manufacturing sector because Xerox, Quad Cables and Surana"s automotive division decided to shift their operations. On the services side, Intelligroup and Convergence, each deferred their plans to set up 1,200-seater facilities," he said.