Cyclone Michaung Destroys Business in Chennai

 The most affected are the  manufacturing units in Padi and MSMEs in Ambattur

Chennai flood insurance claims touch Rs 4,800 crore

Cyclone Michaung, which downed half a cadence of rain on Chennai in three days, has left manufacturing units poorly affected.

The most affected are the bus element manufacturing units in Padi and MSMEs in Ambattur, sources said. Padi, home to manufactories of several TVS group companies similar as Sundram Fasteners, Wheels India, thickets India, and Lucas- TVS, which have a combined development of ₹ 25,000 crore, has been particularly hit, with the shops under several bases of water.

There's still no power in the Padi area and hence the companies in the Padi belt haven't been suitable to operate, said a top functionary of another leading bus corridor establishment.

In a statement issued momentarily, the Confederation of Indian Industry said that marketable establishments and artificial units operating in Chennai, Kancheepuram, Chengalpet, and Tiruvallur sections have also been affected due to the cyclone. 

Chennai is one of the top global capitals for IT assiduity. still, the impact of the rain left the assiduity searching for a result as numerous of the IT structures were girdled by water making it insoluble for workers to pierce it.

 indeed if power was restored there was no Internet in numerous corridors of the megacity as lines were cut.

The social media was swamped with vids of the IT areas like Sholinganallur and Velachery girdled by knee-high water. A videotape showed a swimming pool- suchlike appearance with water inside the Ascendas IT Park.

With the structure unfit to take the impact of similar natural events could impact the assiduity’s image. Gopal Srinivasan, Chairman, of TVS Capital finances, in a post on X( Twitter), said, “ Poor megacity operation during the recent rains stressed business durability challenges in Chennai."

While any dislocation to services will dent the image of any state or business, progressive companies have well-proved and time-tested business durability plans in place. These plans generally get touched off in expectation of an event, said Ramkumar Ramamoorthy, Partner at Catalincs and former CMD of Conscious India.

The IT assiduity is used for similar natural events not only in Chennai but also in places like Bengaluru and Mumbai.

“ I suppose this is an exception. Tamil Nadu’s strength of gift, engineering sodalities, leadership brigades, entrepreneurship, good law and order in particular people safety continue to be crucial lodestones for investment in the State, ” said MP Vijay Kumar, CFO, Sify Technologies. lately, there was an analogous situation in Bengaluru when rains pounded the megacity. still, they didn't affect investment opinions, he added.