For investors, Hyderabad now pariah
The decision on Hyderabad's fate has had investors scurrying for the exit, thanks to the anti-Seema-Andhra sentiment prevalent in Telangana.Updated: Aug 07, 2013 03:51 IST
The decision on Hyderabad's fate has had investors scurrying for the exit, thanks to the anti-Seema-Andhra sentiment prevalent in Telangana.
With around 75% of its investments coming from the Seema-Andhra region or its people, this does not bode well for the city, a pharma and IT hub.
"Naturally, I am worried about putting my money here. If something undesirable happens tomorrow, I would be at a total loss," said SV Krishna Prasad from Vijaywada, CEO of Cito Healthcare, a drug marketing firm.
For three years, people like Prasad have had their plans on freeze, hoping for a peaceful settlement to the statehood issue. And now, their investment might just go to Maharashtra, which held a conference in Hyderabad on Tuesday to promote itself as an investor destination.
The prospect of investment in IT sector does not look too good either. Currently, the city's IT exports are worth over Rs 40,000 crore annually.
JLN Murthy, a corporate consultant, might advise his Vishakapatnam-based IT client to go to Pune. "They have some investments in Hyderabad but given the situation, they want to explore new avenues," he said.
Anti-division agitation completes week
Agitations against division across Coastal Andhra and Rayalaseema completed a week on Tuesday.
In Hyderabad, clashes broke out in a couple of government offices between employees from Seema-Andhra and Telangana.
With the employees on protest mode and ministers indulging in political manoeuvers, governance in the state has come to a standstill. There is confusion among aspirants about various job notifications.