Bengaluru Submerged In Water: Losses Of More Than Rs 200 Crore Estimated By Companies

The water clogging problems caused by incessant rainfalls in Bengaluru are doing the rounds all over the internet, as the Indian Silicon Valley faces cloudbursts and acute flooding problems.

Bengaluru Submerged In Water: Losses Of More Than Rs 200 Crore Estimated By Companies

Reports state that an estimated Rs 225 crore has been erased from the all firms as losses due to the water-clogging problems in the city, and this is the case only for the companies based in the Outer Ring Road area of Bengaluru.

In a letter written by the Outer Ring Road Companies Associations or ORRCA to the Chief Minister of Karnataka Basavaraj Bommai last week, the association body underlined a loss of Rs 225 crore due to flooding of the outer ring road area.

The said association represents all the major IT and banking companies present on the Outer Ring Road or ORR stretch.

“It is estimated that more than half a million professionals are employed along the Outer Ring Road (ORR) between Central Silk Board and K.R.Puram corridor and with various support services and indirect employment, this corridor which measures about 17 kms is providing employment close to one million people,” the letter read.

The IT companies on the Outer Ring Road area generates a revenue of $22 billion in a year, which is 32% of the whole city’s (Bengaluru) revenue and is also the highest tax contributor.

The association mentioned that despite being such a huge contributor to Bengaluru’s revenue generated, the lack of focus on development of the infrastructure in this corridor is appalling.

The letter addressed to the chief minister starred mentions of poor infrastructure on the corridor, which in turn is pulling down the efficiency and productivity of the companies, while putting employee safety and well-being at risk.

“Flooding on ORR on August 30 has led to a loss of Rs 225 crores as staff were stuck on the road for more than 5 hours. Inadequate infrastructure on ORR has now reached a crisis level. Even though only 30% of ORR population has returned to working from office, the collapse of the infrastructure has drawn global concern on the city of Bengaluru’s ability to handle further growth. Member companies have made a substantial investment on the ORR,” added the letter.

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