The Chennai floods have devastated the city’s trade, industries and all other major and minor commercial activities causing a huge financial loss not jut for common people but also the industrial sector. The Associated Chambers of Commerce and Industry of India (ASSOCHAM) stated that the overall losses caused by the Chennai floods amount upto Rs 15,000 crores.
Small and medium enterprises, automobile and engineering industries, information technology (IT), ITeS, textile, tourism and several other commercial sectors have been severely affected by the incessant rains. Major companies like Hyundai Motor India Ltd, BMW, Renault India Pvt. Ltd, Ford and India Yamaha Motor Pvt. Ltd stopped production from Tuesday.
Apart from the automobile sector, even the IT sector has been badly affected with the floods. IT majors like Infosys, Accenture India, TCS, Hewlett Packard, Cognizant Technology Services and many others have been totally shut with their office campuses flooded badly.
Assocham has urged the union government to announce relief and rehabilitation package to rescue the people and the industrial sector in Chennai and other parts of Tamil Nadu.
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