• search

Multinationals opting Hyderabad, Chennai: FKCCI

Written by: Staff
|

Gulbarga, Dec 4: The Federation of Karnataka Chamber of Commerce and Industry(FKCCI) said due to the lackadaisical attitude of the state government to provide adequate infrastructure, multinational companies were opting to set up industries in Hyderabad or Chennai.

The state had lost investment to the tune of Rs 35,000 crore during the last few years as multinationals chose to set up ventures in Hyderabad and Chennai in view of Governments of Andhra Pradesh and Tamil Nadu, providing the necessary infrastructure, FKCCI president S S Patil said while addressing a press conference here yesterday.

The multinationals as well as automibiles and software companies were looking at Chennai and Hyderabad to set up industries, he said adding that every year Karnataka was losing at least four multinationals.

Pointing out that political unstability in the state was also causing a hindrance for the development of industries, he said and lamented that despite Bangalore emerging as the silicon valley of Asia, the city was not witnessing the required development.

He urged the state government to take steps to decongest the city by developing satellite towns and creating necessary infrastructure.

UNI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more