The nearly a week long protests across Karnataka over the SC order on releasing water from Cauvery river to neighbouring Tamil Nadu has taken a toll on the state's economy.
According to an estimate by industry body Assocham, the violence and shutdowns have inflicted damages of between Rs 22,000 crore to Rs 25,000 crore, mostly in the IT hub of Bengaluru.
"With widespread damage to the vital urban infrastructure, interruption in the transport including roads, rail and air and inability of the workforce to safely move to and from offices and factories, Karnataka, particularly Bengaluru city, is estimated to have suffered a loss between Rs 22,000-25,000 crore due to Cauvery dispute related violence," an Assocham statement said.
It also pointed out that the image of Bengaluru as India's Silicon Valley has been damaged due to the violence. The city is home to a number of Fortune 500 companies.
Most of them had to suspend operations or declared holidays on Monday and Tuesday when the violence was in its peak. E-commerce majors, Flipkart and Amazon had suspended operations in the city on Tuesday.
IT sector, the biggest economic driver of the Bengaluru is likely to be the worst hit.
Industrial production, movement of cargo and retail trade in shopping malls, cinema theatres, restaurants, hotels and pubs have also been badly affected.
Source:IndiaTimes
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