The torrential rains in Tamil Nadu might have led to financial losses exceeding Rs 15,000 crore, Assocham said on Wednesday (02 December).
“The financial loss due to the record breaking rainfall in Chennai and several parts of Tamil Nadu may have even exceeded Rs 15000 crore mark which has brought Chennai to a standstill and people are in grip of fear and panic,” said Associated Chambers of Commerce and Industry of India (Assocham) in a release.
“Unprecedented and torrential downpour in Chennai and other parts of Tamil Nadu has created a chaos,” said, D S Rawat, secretary general, Assocham.
It has created an atmosphere of uncertainty and panic not only for the trade, industry and other commercial activities but also among the individuals who are bearing with huge financial losses to their properties and livelihood, he added.
He also said that urbanisation and unplanned growth are the main reasons for the floods in Chennai and we should take it as a lesson for existing metros such as Delhi and Mumbai and also for those which are planned.
Small and medium enterprises, automobile and engineering, IT and ITeS, textile, tourism, agriculture, railways and now air traffic have been worse affected by the continuous rainfall.
BW Reporters
Haider Ali Khan is an alumnus of IIMC. He holds a degree in English Journalism from the prestigious campus. His passion includes Aviation, Technology, Politics and Sports.
