Financial Loss Due To Floods In TN May Cross Rs 15K Crore: ASSOCHAM

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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, apex industry body ASSOCHAM said today.

Financial Loss Due To Floods In TN May Cross Rs 15K Crore: ASSOCHAM

"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 Mr D.S. Rawat, secretary general of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

"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 and others as any negligence or ill-preparedness might invite trouble in a similar manner or may be even worse than this," said Mr Rawat.

"Authorities in all metros should review their disaster management plans at regular intervals and make long-term plans to improve drainage systems, even households and communities need to be prepared for such extreme events that are generally predicted about, SMS alerts and advance warnings should be sent to residents, local authorities need to be well-organised to deal with such emergencies," he added.

"There is a need for a flood-prevention plan comprising precise weather forecast, timely warning and close monitoring of vulnerable areas during emergencies to ensure that roads are not inundated and humans and vehicles are safe even when torrential rain lashes the city," further said Mr Rawat.

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

ASSOCHAM has urged the central government to immediately announce a suitable relief and rehabilitation package and come to the rescue of the state inhabitants and the industry in Tamil Nadu in this hour of extreme crisis.

Read more about: assocham
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