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Recent floods cost small businesses almost $250 million

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Karan Mehrishi, lead economist at India-based SMERA Ratings Ltd., said that the recent floods in the nation's Tamil Nadu and Puducherry regions have cost micro small and mid-sized enterprises almost 17 billion Indian rupees ($258 million), reports India Today citing the Press Trust of India.

Mr. Mehrishi added that the actual financial losses could be much higher in terms of lost opportunities and job losses. Maximum losses were recorded in the leather sector, with damage estimated at over INR 3.8 billion.

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