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Posted on Feb 21, 05:09PM | IBNS
New Delhi, Feb 21 : Condemning widespread destruction of industrial properties in Noida during the two-day nationwide trade bandh, ASSOCHAM Secretary General D S Rawat has made a strong appeal to Uttar Pradesh Chief Minister Akhilesh Yadav to immediately tighten the security in the sub-city as the incident has triggered a sense of insecurity among the industry and employees in the area.
"Horrific incidents in the name of Bharat Bandhs cannot be tolerated and the administration should take the strongest possible measures and punitive action against the culprits," said Rawat in a statement.
He lamented that even though vast damage was done to the industrial property yesterday, the police could not ensure full security as some incidents have been reported even on Thursday.
"The pictures showing burning of cars and other industrial property spread all over the print, electronic and social media really scares the investors," said Rawat.
"In case immediate action is not taken, investment in Noida and Greater Noida will suffer. An investment worth thousands of crores has already been made in this NCR area in educational institutions, automobile units, IT software, electronics and hospitality sectors.
"If a sense of security is not immediately provided, the reality sector will take the biggest hit as investors from Delhi and other nearby areas would not go there. Safety and its perception is the most important in the mind of investors," said Rawat.
He said: "No hooligans should be tolerated in the name of Bandh."
While ASSOCHAM shares genuine concerns of the workers, it does not mean "we bring the economy to a standstill", he said.
"A loss of about Rs 26,000 crore estimated by the ASSOCHAM should have been avoided at a time when the economy is battling one of the worst slowdowns," said Rawat.
Like Wednesday, the banking, financial services and the transport sectors continue to remain hit, the reports from states suggest.
The number of customers in the retail market continues to remain thin.
The cargo movement at the ports and airports has also been hit leaving a crippling effect on exports which have already declined significantly in the nine months of the current financial year, the chamber said.
In most of the industrial states and enclaves the attendance was poor leading to curtailing of productions shifts, it said.