The Hindu : National : Commerce body estimates total loss at Rs. 2000 crores

Online edition of India's National Newspaper
Tuesday, Dec 28, 2004

National

National

Commerce body estimates total loss at Rs. 2000 crores

By Our Special Correspondent

NEW DELHI, DEC. 27. Expressing deep sorrow and grief over the casualties due to the destruction wrought by the tsunami, the president of The Associated Chambers of Commerce and Industry of India (ASSOCHAM), Mahendra K. Sanghi, today appealed to its constituents to extend relief to the thousands of affected people.

In a statement issued here, Mr. Sanghi said that based on the feedback it received from its affiliated bodies like Madras and Cochin Chamber of Commerce, Federation of Andhra Pradesh and Karnataka Chambers of Commerce, the estimated loss could be over Rs. 2000 crores.

The statement said neither manufacturing nor any other economic activities were going to be adversely affected due to the disaster , barring shipping industry and tourism in Kerala and the Andaman and Nicobar islands.

Three ships costing around Rs.150 crores have been damaged in Chennai port, while Port Blair has been extensively damaged.

Mr. Sanghi said the infrastructure of the coastal areas has been damaged, particularly in Tamil Nadu and Port Blair — communication with which remains cut off.

Losses in Tamil Nadu, Pondicherry, Kerala, Karnataka and Andhra Pradesh are estimated to be over Rs. 800 crores.

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