thunderstorm369 Posted December 22, 2009 Report Posted December 22, 2009 The Confederation of Indian Industry estimates that businesses and industrial houses have incurred a loss of Rs 1,000 crore due to the bandhs and other agitations that have erupted across the state in the last three weeks. Services, shops and similar establishments, industrial houses, real estate, the pharmaceutical and film industries are the biggest losers. Industrial houses are worried that the seemingly unending agitations will scare away investment in the state in future. “Industrial production has been drastically affected due to the agitations across the state. There is a cascading affect on other sectors too. As per the initial estimate, the loss is around Rs 1,000 crore in the state,” said Mr Y. Harish Chandra Prasad, CII-AP president. There is virtually no movement of files in government offices. Registration of properties has been stopped completely. No work related to industries and business houses is being taken up,” he added. The Federation of Indian Chambers of Commerce and Industry’s executive committee member, Mr Su-raj Prasad Agarwal, says business transactions all over the state were disrupted because transport was not available. “The industrial sector cannot bear the losses further since it is not possible to run factories and businesses when unrest continues,” Mr Agarwal added. http://www.telugudreams.com/News/NewsDetails.aspx?nId=4174&cId=7
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