
Also See: Bangalore Bandh News Live
Industry bodies have pegged losses for the two bandh days at Rs 4,000 crore and point out that that it may cripple the economy, which has just recovered from the pandemic and hurt its chances of becoming a $1 trillion economy anytime soon.
Expressing their discontent over the state government’s decision to release Cauvery water to Tamil Nadu, several pro-farmer and pro-Kannada organisations have called for a complete ‘Bengaluru bandh’ on September 26.
“Bandhs hurt the livelihood of people. They can never be an option for any issue, be it sentimental or political,” said
Prabhakar said economics aside, bandhs will also hurt the credibility of Bengaluru and Karnataka as it will reflect on international orders and commitments. KEA has refused to take a stand on the bandh and has directed its 720 member companies to decide on closing depending on the “local situation”.
The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) said a business entity will need at least a week to recover from losses from a single day of closure.
“One day closure by only the trading community amounts to a Rs 100 crore loss in GST collection to the state exchequer. Consider this multiple times across all spheres of economic activi ties,” said Ramesh Chandra
Considering the cause and sentiments behind the Cauvery issue, some 80% of industries in Bengaluru have agreed to close for a day on Tuesday (September 26) but are wary of closing again on Friday. “We have left it to local industries to decide,” said Lahoti.
The hotelier’s association, which employs some 10 lakh people directly or indirectly, estimates a loss of Rs 100 crore in excise duties alone per day.
“While reports suggest heavier losses, revenue generation in our industry is on a daily basis,” said PC Rao, president, Bengaluru Hotelier’s Association. “Other industries can restart operations the next day and recoup losses, but that’s not possible for hoteliers.” He said the association cannot support the bandh call due to “lack of clarity”.