Telangana unrest may impact fund flows: Assocham
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Last Updated: Saturday, December 12, 2009, 20:30
  
Hyderabad: Industry body Assocham on Saturday said the Telangana unrest will be detrimental for the growth of the state and may impact the flow of investments, but did not give any precise figure.

The Assocham in a release said the ongoing agitation in the state will impact the growth of IT/ITeS, manufacturing & real estate, besides affecting investments from corporate sector.

The industry body called for a need to maintain an environment favourable for growth to minimise losses to industry. Already, the phrama firms in the state have said they have lost nearly Rs 400 crore in the last ten days of the unrest.

Andhra Pradesh, for the the first time last year, emerged as the favourite among local and global investors after Gujarat.

According to Assocham study, last year, of the Rs 88,71,867 crore investment proposals--both government and private--announced for the country, Andhra's share was 8.7 per cent at Rs 7,05,000 crores.

As on March this year, the private sector investments announced for the state is Rs 4,25,656 crore in which the domestic private sector share stood at Rs 3,80,461 crore for 971 projects, the statement said.

PTI


First Published: Saturday, December 12, 2009, 20:30


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