Business losses from record rains likely to exceed $2 billion
Posted On: Dec. 4, 2015 12:00 AM CSTIndia's Associated Chambers of Commerce and Industry has said that losses to businesses from the record rainfall in India's Chennai city are likely to total over 150 billion Indian rupees ($2.25 billion), reported Bloomberg.
The heavy downpours and floods have claimed 269 lives so far. The chamber termed the situation as "total chaos." It said small and medium enterprises, and the automotive and information technology sectors were the worst hit.