Expressing concern over damage to industrial properties in Noida during the two-day strike period, Assocham has urged UP Chief Minister Akhilesh Yadav to immediately tighten security in the area saying the incident has led to a sense of insecurity among the industry and employees there.

"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 Secretary General D S Rawat said in a statement released here today.

Even today some such incidents have been reported, he said.

"In case immediate action is not taken, investment in Noida and Greater Noida will suffer. An investment worth thousands of crore 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....," he said.

"A loss of about Rs 26,000 crore estimated by the Assocham could have been avoided at a time when the economy is battling one of the worst slowdowns", he said.

Like yesterday, the banking, financial services and the transport sectors continued to remain hit, the reports from states suggest.

"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.