Exports loss of Rs 300 crore due to cyclone ‘Vardah’

Exports worth more than Rs 300 crore was lost due to cyclone Vardah which caused huge havoc to the infrastructure in the city and neighbouring districts, Federation of Indian Exports Organisation said.

“Exporters in Chennai lost more than Rs 300 crore due to Cyclone Vardah alone.Huge losses were incurred to individual industries as well due to the calamity,” FIEO Chairman, A Sakthivel said in a statement today.

Several industrial units were unable to operate as power and water supply were yet to be restored in many areas.

“Apart from damage to the properties, entire production process has stopped.”

During 2015-16, exports from Tamil Nadu was around USD 31.25 billion while it was USD 13.27 billion between April-September 2016.