Rs.15,000 crore loss in flood-hit Tamil Nadu: Assocham

Chennai, Dec 2 (IANS) The financial losses from the torrential rains and floods in Tamil Nadu may exceed Rs.15,000 crore, industry lobby body Assocham said on Wednesday.

“The financial loss due to record-breaking rainfall in Chennai and several parts of Tamil Nadu may even exceed Rs.15,000 crore mark as the city of Chennai has come to a virtual standstill and is in the grip of fear and panic,” the Associated Chambers of Commerce and Industry of India (Assocham) said in a statement.

Assocham secretary genera D.S. Rawat said the “unprecedented torrential downpour in Chennai and other parts of Tamil Nadu has led to total chaos”.

It has created an atmosphere of “uncertainty and panic not only for the trade, industry and other commercial activities” but also “especially amid common individuals who are bearing heavy financial loss to their properties”, the statement quoted Rawat as saying.

“Urbanisation and unplanned growth are the main contributing factors for floods in Chennai, which is also a lesson for both upcoming and existing metros like Delhi, Bengaluru, Mumbai…,” he added.

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


Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here