HYDERABAD: Majority of industry representatives welcomed the formation ofTelangana state and said the decision would in no way adversely affect them.
While welcoming the decision to allow Telangana people write their own fate, the infrastructure firm IVRCLBSE -2.90 %Chairman E Sudhir Reddy said, "It may now lead to similar statehood demands from across the country. Given the law and order related experiences of Chhattisgarh and Jharkhand, the union government should now focus on a national-level disaster management mechanism to address such issues in smaller states in the national interest."
Chief financial officer with an infrastructure company into construction, roads and power, who did not want to be named, said the Telangana state formation would in way affect the interests of Andhra-based entrepreneurs with business interests in Telangana region. "Most of the infrastructure firms have projects across the country and in fact the new capital for Andhra state, which may involve some 1 lakh crore of funds, would provide a major business opportunity. Smaller states like Chhattisgarh, Jharkhand and Uttarakhand have shown impressive growth rates of some 10% a year and we hope both Telangana and Andhra states would also deliver similar growths."
Differing with this, chairman of a construction company, who did not want to be named, said, "It will be a disaster for both Telangana and Andhra states. Their political bargaining power will come down drastically and as a result they cannot influence the Centre in obtaining large developmental projects to their respective states."
Managing director of a large pharmaceutical company with roots in coastal Andhra, who also did not want to be named, ruled out the possibility of capital flight due to Telangana formation. "We have built large manufacturing facilities here and cannot think of shifting them to Andhra state. Since we have facilities in Visakhapatnam already, we may consider expanding the facilities there if needed."
BVR Mohan Reddy, chairman and managing director of Infotech EnterprisesBSE -0.06 % and former head of Southern region Confederation of Indian Industry, said the industry body had submitted a representation earlier to the Sri Krishna Committee that "development will not be ensured just with creation of smaller states and there is a need for a comprehensive development plan at the district level to ensure that no region suffers for lack of development."
http://economictimes.indiatimes.com/news/politics-and-nation/industry-hails-telanganas-creation-sees-big-business-opportunity/articleshow/21498831.cms
Chief financial officer with an infrastructure company into construction, roads and power, who did not want to be named, said the Telangana state formation would in way affect the interests of Andhra-based entrepreneurs with business interests in Telangana region. "Most of the infrastructure firms have projects across the country and in fact the new capital for Andhra state, which may involve some 1 lakh crore of funds, would provide a major business opportunity. Smaller states like Chhattisgarh, Jharkhand and Uttarakhand have shown impressive growth rates of some 10% a year and we hope both Telangana and Andhra states would also deliver similar growths."
Differing with this, chairman of a construction company, who did not want to be named, said, "It will be a disaster for both Telangana and Andhra states. Their political bargaining power will come down drastically and as a result they cannot influence the Centre in obtaining large developmental projects to their respective states."
Managing director of a large pharmaceutical company with roots in coastal Andhra, who also did not want to be named, ruled out the possibility of capital flight due to Telangana formation. "We have built large manufacturing facilities here and cannot think of shifting them to Andhra state. Since we have facilities in Visakhapatnam already, we may consider expanding the facilities there if needed."
BVR Mohan Reddy, chairman and managing director of Infotech EnterprisesBSE -0.06 % and former head of Southern region Confederation of Indian Industry, said the industry body had submitted a representation earlier to the Sri Krishna Committee that "development will not be ensured just with creation of smaller states and there is a need for a comprehensive development plan at the district level to ensure that no region suffers for lack of development."
http://economictimes.indiatimes.com/news/politics-and-nation/industry-hails-telanganas-creation-sees-big-business-opportunity/articleshow/21498831.cms
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