Assocham pegs Chennai floods losses at over Rs15,000 crore
December 03, 2015  09:14
The Associated Chambers of Commerce and Industry of India has estimated that the financial loss due to the rains may exceed Rs 15,000 crore with Chennai and several parts of Tamil Nadu coming to a virtual standstill after heavy rains and severe flooding.

"Unprecedented torrential downpour in Chennai and other parts of Tamil Nadu has led to total chaos, thereby creating an atmosphere of uncertainty and panic not only for the trade, industry and other commercial activities but especially amid common individuals who are bearing heavy financial loss to their properties," said D S Rawat, secretary general of Assocham, in a statement.

Small and medium enterprises, automobile and engineering industries, information technology, ITeS, textile, tourism and a host of other sectors have been badly affected by the massive rainfall.

Assocham has urged the central government to immediately announce relief and rehabilitation package and come to the rescue of residents and the industry in Tamil Nadu in this hour of extreme crisis.
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