Political instability, bandhs, self-immolations, indefinite month-long strikes, corruption in corporate companies as in Satyam and some more bandhs! Now, one can also safely add bomb blasts to the long list. It is now increasingly becoming tough to shake-off the perception among general public and investors that brand Hyderabad is losing its sheen and investor-friendly tag. Experts familiar with the industry point out that investors are now looking at Hyderabad with suspicion and have little faith when it comes to investing.
“Brand Hyderabad has taken a beating in the last few years. Political instability, bandhs, power shortage, corruption and now bomb blasts. Investors are losing confidence,” says president, Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), Devendra Surana. The twin advantages of cost effectiveness and presence of talented manpower in Hyderabad have for long attracted companies from outside. “But we are frittering away the advantage. The negatives are stacking up and Hyderabad is losing its advantage. Authorities should realise the importance of having a strong intelligence set up to thwart such attacks,” he added. The IT and ITES Industry Association of Andhra Pradesh (ITsAP) pointed out that while bomb blasts have become universal, political stability and good governance continues to remain paramount for the IT sector.
“To be fair, no place on this earth is safe from terrorists. Obviously, our customers in US and Europe are worried but they understand that terrorism is universal. However, there is a definite need for political stability and good governance, which have the potential for investment and goodwill,” says secretary, ITsAP, Bipin Chandra Dutt Pendyala. Senior IT professionals have called for resilience among the public in Hyderabad. “While the loss is sad as a city we have to be resilient. There will be immediate concerns around travel in the city, but I don’t think it will impact brand Hyderabad. We should not let it affect our spirit and resilience,” said Ramesh Loganathan, charter member of The Indus Entrepreneurs (TiE).
