Struggling to keep its head above water, Ambattur counts its losses
Business Standard|December 08, 2023
South Asia's largest small-scale industrial hub lost ₹2,000 cr due to Chennai floods
Struggling to keep its head above water, Ambattur counts its losses

The clash of metals and the aroma of welding fire and chemicals typically welcome visitors to the Ambattur region, housing South Asia's most extensive small-scale industrial estate, on an ordinary day.

However, a day after the deluge on Thursday, the atmosphere underwent a drastic change. Instead of the usual sounds of metalwork, the hum of motors flushing out water and an unpleasant odour of mud and dirty water greeted outsiders to this industrial hub.

What makes the region even more critical is that the floods directly and indirectly affected over 300,000 workers. Locating an owner of a unit on a flooded day was equally challenging, as the majority were occupied with assessing losses and cleaning their units.

According to state Minister for School Education Anbil Mahesh Poyyamozhi overseeing relief and rescue operations at Ambattur, the region suffered losses amounting to 2,000 crore. The north phase of the Ambattur Industrial Estate, completely submerged, is home to about 1,500 micro, small and medium enterprises (MSMEs).

Established in 1964, the Ambattur Industrial Estate houses mainly automotive (auto) ancillary units catering to numerous large industries in Chennai and beyond.

When Business Standard spoke with Sathya Narayanan, owner of Udhayam Industries, in front of his flooded manufacturing unit, he was surrounded by at least 10 employees.

This story is from the December 08, 2023 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the December 08, 2023 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS STANDARDView All
Loser takes all
Business Standard

Loser takes all

This book was published in September, three months ahead of the US presidential polls, presumably to reveal to voters the dangers of returning Donald Trump to the White House.

time-read
5 mins  |
November 30, 2024
Business Standard

J&K HC asks Army to pay 46 years' rent to landowner

The High Court of Jammu and Kashmir and Ladakh recently held that the right to property now falls within the realm of human rights.

time-read
1 min  |
November 30, 2024
Business Standard

India, UK navies to develop electric propulsion for next-gen warships

The ministries of defence of India and the UK have signed a statement of intent (SoI) to cooperate in designing and developing Electric Propulsion Systems for the Indian Navy.

time-read
2 mins  |
November 30, 2024
India backs Iskcon, tells Bangladesh to protect minorities
Business Standard

India backs Iskcon, tells Bangladesh to protect minorities

New Delhi hopes arrested monk will get fair trial

time-read
1 min  |
November 30, 2024
HAVING A BALL
Business Standard

HAVING A BALL

Indian bowlers are winning matches and setting IPL auction records. But brands are not yet bowled over. Will Bumrah get bowlers their due?

time-read
5 mins  |
November 30, 2024
Business Standard

Link UPI app to bank account with limited funds, set daily limits

Indians have lost ₹485 crore to frauds on the Unified Payments Interface (UPI) across 632,000 incidents reported until September of the current financial year, according to data from the Ministry of Finance.

time-read
2 mins  |
November 30, 2024
Arpu gains, lower capex augur well for Airtel
Business Standard

Arpu gains, lower capex augur well for Airtel

Brokerages positive on stock; earnings flows may rise over next 24 mths

time-read
2 mins  |
November 30, 2024
NIFTY LOGS BACK-TO-BACK MONTHLY LOSS
Business Standard

NIFTY LOGS BACK-TO-BACK MONTHLY LOSS

Benchmark Nifty 50 index shed 0.3 per cent in November, logging its first back-to-back monthly loss since February 2023.

time-read
1 min  |
November 30, 2024
Lock-up on ₹1.2 trn pre-IPO shares to lift in two months
Business Standard

Lock-up on ₹1.2 trn pre-IPO shares to lift in two months

Lock-up on shares worth nearly ₹1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note.

time-read
1 min  |
November 30, 2024
Margin moderation may cap upsides for Colgate
Business Standard

Margin moderation may cap upsides for Colgate

After gaining over 15 per cent in the first half of the week, the stock of oral care major Colgate-Palmolive (India) has shed about a third of those gains.

time-read
2 mins  |
November 30, 2024