The Hindu : Business : Shipping, tourism and marine sectors hit

Online edition of India's National Newspaper
Wednesday, Dec 29, 2004

Business

Business

Shipping, tourism and marine sectors hit

NEW DELHI, DEC. 28. Leading industry chambers, the Confederation of Indian Industry (CII), and the Federation of Indian Chambers of Commerce and Industry (FICCI), today said the loss caused by tsunami disaster was limited to shipping, tourism and marine products export sectors but refused to hazard any guess about the quantum of economic damage at this point.

The chambers said it was too early to quantify the losses, adding they would take a couple of days to arrive at some kind of figure. However, based on feedbacks from its affiliated chambers in Chennai, Kochi, Karnataka and Andhra Pradesh, the Associated Chambers of Commerce and Industry (Assocham) said that infrastructure worth more than Rs. 2,000 crores was destroyed by the wall of waves but the manufacturing sector remained largely unaffected.

The Assocham President, Mahendra K. Sanghi, said neither manufacturing nor any other economic activity would be adversely affected due to tsunami barring the shipping industry and tourism in Kerala and Andaman Nicobar islands.

Three ships costing around Rs. 150 crores have been damaged in Chennai Port, while the major part of Port Blair has been severely damaged, he said.

The CII Director-General, N. Srinivasan told PTI that it was bit early to assess the exact economic loss. The chamber would come out with exact figures in a couple of days, he said.

— PTI

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