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02 Dec 2022, Edition - 2698, Friday

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Losses due to Cauvery clashes pegged at Rs.25K crores for Karnataka

Covai Post Network


Apex industry body, ASSOCHAM has said that Karnataka, especially Bengaluru, has suffered losses to the tune of Rs.22,000-25,000 crores due to the ongoing protests and violence over the Cauvery issue.

Appealing for peace in both Karnataka and Tamil Nadu, ASSOCHAM said that violence in Karnataka and Bengaluru has “severely dented the image of Bengaluru as Silicon Valley of India, home to almost all the Fortune 500 companies.”

ASSOCHAM Secretary General, DS Rawat said that the violence was “demoralizing the business and industrial community, particularly in the capital city of Karnataka,” in addition to sullying Bengaluru’s image the world over as a cosmopolitan city.

The losses stem mainly from the poor work attendance over the past several days of IT and ITES employees, and a near-total standstill in the inter-state tourism. Also, movement of industrial goods across the state borders have been severely affected. “All these losses would run between Rs.22,000 crore and Rs.25,000 crores,” he said.

Seeking the Centre’s intervention in restoring peace between the two states, ASSOCHAM has also requested the authorities in Tamil Nadu and Karnataka to ensure that law and order was not compromised. “While the water is a basic requirement and an emotional issue, the situation is being exploited by miscreants,” Rawat said.

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