700 Hyd-based Companies moving to AP

Posted : June 24, 2014 at 10:02 pm IST by ManaTeluguMovies

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Around 700 Hyderabad-based small and medium companies owned by the Entrepreneurs and Industrialists whose roots have been in Coastal Andhra and Rayalseema regions have been shifting their base to Andhra Pradesh. This process which began few days after the Telangana bill was passed in Parliament picked up after the election results were announced on May 16th. While 118 new companies have been registered in AP since June 2nd this year, The count is just 12 in Telangana.

Sources say, Settlers have been feeling insecure about the future as T-Government have been paving red carpet for Telanganites and giving least importance to them. The fact that Hyderabad will be the capital of Telangana alone after 10 years is also making them feel uneasy.

Telangana enjoys huge revenue due to large number of registered offices in Hyderabad. With the change in the mindset of businessmen, Several registered offices have been moving to AP and this move will have an effect on Telangana’s economic growth.