Rs 300 Cr exports loss due to cyclone Vardah: FIEO Chairman, A Sakthivel

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 $31.25 billion while it was $13.27 billion between April-September 2016. "FIEO estimates exports from Tamil Nadu to be in negative due to impact of last year's floods and by cyclone Vardah," he said.

He urged the state government to waive the interest on working capital for half yearly period for units affected by the cyclone.