It took nearly 60 years for the city of Hyderabad to be considered as a city which really matters in the Indian economy. The developmental activities which were initiated by Chandrababu Naidu and YS Rajashekara Reddy were instrumental to turn this historical city into a most favored investment destination. The developmental explosion which was witnessed for the past ten years made the city the next best thing after Mumbai. But all that seems to be passe.
The present imbroglio over the separate state of Telangana has thrown a spanner into the developmental and infrastructure projects of the city. All of the developmental projects like, Housing, Roads and other activities seem to have come to a grinding halt. The investors who were ready to set up their shop in the city are buying time as they are very much sceptical of their investment and the future profitability. The hype which surrounded the Hi-Tec city and the subsequent phases of the project have come into serious doubts with no Multinational Companies showing any interest unless the political turmoil surrounding the city blows over.
Certain countries like the US, Canada and the UK have already issued travel advisories for their nationals to not to travel to the state of Andhra Pradesh and stay away from Hyderabad. And the foreign nationals already working in the city have been asked to vacate the city lest they fall into mortal danger.
This is a situation which is totally unwarranted. One might argue that all this is mindless fears and it is common for businesses to suffer during the times of a revolution. But Multinational companies which have various other options would not wait for the sentiments of the people and they would rather concentrate on their profits than taking a hit on their finances.
It is time for the political leaders to instil confidence in the business circles about the advantages of Hyderabad, lest the city loses its sheen which it gained after a hard turmoil.