MSMEs around Chennai see damages of over Rs 3,000 cr & counting

Posted under: MSME
Date: 2023-12-11
MSMEs around Chennai see damages of over Rs 3,000 cr & counting

The full impact of the destruction cyclone Michaung has wrecked on the industrial belt in and around Chennai is yet to be assessed. But back-of-the-napkin estimations emerging from some of the worst-off industrial estates put the figure at upwards of Rs 3,000 crore. The Tamil Nadu government, however, chooses to peg this at just Rs 967 crore. While the math is still in the works, what is apparent is that the impact was felt more by the micro, small, and medium enterprises that operate out of industrial estates run by the state government’s Small Industries Development Corporation (SIDCO), where evidently the infrastructure was not equipped to handle the deluge. This starkly contrasts with the industrial parks run by the government’s other arm, SIPCOT, where the larger industries with far deeper pockets are located. While these big OEMs could swing back into operations on Wednesday, December 6, hundreds of smaller units could not be accessed until Saturday, December 9.

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