Chennai floods: Losses of MSMEs reach around Rs 18000 crores

Chennai, Dec 9 (KNN) The Chennai floods not only claimed more than 300 hundreds lives across the state but has also sunk the businesses worth thousands of crores of rupees in the city, as per the economists. Losses of the MSMEs located in industrial estates could be around 1,800 crore.

Chennai is well known for its IT and automobile hubs. The experts have started to assess the losses due to the havoc.

The exact losses are yet to be calculated, but two industries epic bodies Confederation of Indian Industry (CII) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM) have projected the losses around Rs 15,0000 crore because of the stalled industrial production for nearly a week.

Losses of the MSMEs located in industrial estates could be around 1,800 crore.

According to the industry experts, the industries have already started to file their insurance claims.(KNN Bureau)