moving

After the bifurcation there was a long list of corporates who shifted their registered offices to AP. The number of companies who have shifted so is said to be around 3000 companies. in fact Telnagana has acknowledged this in its report to the 14th Finance Commission that at least 3,000 businesses had shifted their base out of Telangana after bifurcation of the erstwhile Andhra Pradesh and said that “the momentum will pick up in the years to come“.

The state is also witnessing some factories shifting lock,stock and barrel. Latest in this list is oil and gas drilling pipes manufacturer Oil Country Tubular (OCTL). Economic Times reports that OCTL is planning to shift its manufacturing facility from Telangana to Andhra Pradesh, citing undue pressure from the trade union affiliated with the ruling Telangana Rashtra Samithi. The Rs 500-crore OCTL, part of Rs 5,000 crore Kamineni group with interests in healthcare and medical education, currently employs about 700 persons in and around Narkatpally in Nalgonda district of Telangana. In all, the group provides employment to over 4,500 persons directly and another 6,000 indirectly.

You can read the Economic Times report HERE.

 

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