Cyclone Vardah hits exports of auto components & aqua products from Tamil Nadu
Sreenivasa Rao Dasari The devastating impact of cyclone Vardah has badly hit the export performance of auto component manufacturers and the aqua sector in Tamil Nadu. Chennai is also known as the Detroit of Asia as it accounts for over 60% of the country’s automobile exports. Though Vardah did not affect the aqua units as they are located far from Chennai, it badly impacted the container movement as floods disrupted the activity at the port. The Federation of Indian Export Organisations (FIEO) urged the Centre and the Tamil Nadu governments to take a holistic approach in order to minimise the impact of natural calamities on the industry and export logistics. After the floods that affected the city last year, Chennai was limping ...
Deluge pushes India's Detroit off-track
Source: PTI Some 10,000 units have suffered losses and about 50,000 people have lost their jobs due to the floods Home to a large number of MNCs including global auto giants, Tamil Nadu received investment commitments to the tune of well above Rs.2 lakh crore in 2015 but unprecedented rains towards the year-end brought its industry to a screeching halt. The record rainfall threw the operations completely out of gear for MNCs as well as that of numerous service and parts suppliers to these biggies in the industrial belt of Chennai, Kancheepuram and Tiruvallore. Chennai, along with some of its adjoining areas, has often been called ‘India's Detroit’ with several automotive giants having set up their plants here. The focus is ...
