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Gujarat industry loses Rs 2,000 cr due to rains

PTI | ByPress Trust of India, Ahmedabad
Jul 02, 2005 03:18 PM IST

The torrential rains which have lashed Gujarat for six consecutive days, inundating its 'Golden Corridor', have crippled the state's economy with the industry losing an estimated Rs 2,000 crore during the period.

The torrential rains which have lashed Gujarat for six consecutive days, inundating its 'Golden Corridor', have crippled the state's economy with the industry losing an estimated Rs 2,000 crore during the period.

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The losses can be more with floods bringing all the industrial activity to a standstill at Valsad, Navsari, Surat, Bharuch and Vadodara, industry experts said on Friday.

"Surat, which is the hub of diamond and textile industry, is the most affected with both the industries losing an estimated Rs 1,000 crore during the last three days," Gujarat Chambers of Commerce and Industries (GCCI) general secretary Bipin Patel said.

"With no delivery of goods taking place due to submerged roads, business in Surat has come to a virtual standstill," Patel said.

"According to preliminary estimates, industries in the state stand to lose over Rs 2,000 crore as most of the units have been completely shut down," he said adding, however, the losses due to the flooding inside the units is yet to be estimated.

"In Vadodara, the industries are totally cut-off as there has been water logging in many industrial areas of the city," Patel said.

The losses to the industrial units in Vadodara can be anywhere around Rs 250 crore, Patel said.

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