U'khand floods: Loss to industry in most affected districts pegged at Rs 8,400 crore

Uttarkashi, Chamoli and Rudraprayag account for 13.8% of the total industrial units in the state

With Uttarakhand strategising its rebuilding plans after facing the nature’s fury in June, an industry estimate states that the loss to the industry in the three most affected districts of Uttarkashi, Chamoli and Rudraprayag would be in the range of about Rs 8,400 crore.

According to an impact assessment study by the Associated Chamber of Commerce and Industry of India (Assocham), the three affected districts account for 13.8% of the total industrial units in the state. Majority of these units are micro and small enterprises, including textile and other metal-based industries. There were a total of 4,396 industrial units that employed about 9,108 people as of March 2012.

“Damages that occurred in various sectors is estimated at Rs 8,367 crore in the three flood-affected districts,” the report said.

The report added that even 50% of output loss in these three districts, may lead to a fall in contribution from industry here to GDP by 5%.

“The loss in output is estimated as Rs 1,147 crore per annum.”

According to Assocham estimates, tourism would be the worst affected in the state with a direct employment loss for about 1,80,000 people becoming unemployed for at least six months. The sector is expected to loss at least Rs 4,170 crore following the disaster.