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Karnataka Industries Suffer Huge Losses Due to Heavy Rains

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Industries from the KArnataka region have come under huge monetary loss as large number of finished goods, under process products and raw materials worth crores are vanished and destroyed in the flow of heavy rain water. Past few weeks southern Indian state of Karnataka is witnessing huge rainfall.

Aware about the condition of industries in Karnataka due to heavy rain in the city that led to flood like situation in the state, Immediate past President of Karnataka Small Scale Industries Association (KASSIA), Basavaraj S. Javali said that the machineries have stopped working, raw materials are washed out and the industrial areas are completely water logged due to incessant rain.

To help industries to recover from this situation small scale industries now requires more capital to raise their industries again and make them operational again.

As industries are under huge loss, he also urged Government not to collect EMIs or interest from industries for nearly six months or complete one year.

Hassan, Belgaum and many more districts are worst hit by the floods. Due to continuous rain in the various districts, it has become difficult for industries like textiles to restart their process again.

Karnataka Chief Minister BS Yediyurappa held talks with more than 60 representatives of the state’s industry and appealed for their help in rebuilding the flood-affected villages.

He also assured industrialists that the government would support them in every way possible, according to a statement issued by the chief minister’s office.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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