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Violence costs businesses billions in India's Gujarat

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Businesses in India's Gujarat state have lost billions due to the ongoing violence, The Times of India reported.

Estimated losses due to violence on Aug. 26 "could be in the range of 140 billion to 150 billion Indian rupees ($2.1 billion to $2.3 billion)," said an official. Production has been affected at all industrial estates. Losses incurred by bullion traders and jewelers are estimated to be around INR 5 billion. The diamond industry in the state has suffered an estimated loss of more than INR 15 billion.

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