With trucks stranded, losses pile up for T.N. industries

With the movement of cargo to and from Karnataka being paralysed by the Cauvery dispute, industries here are staring at piled-up stocks, depletion of raw materials and escalating costs.

Trucks with goods worth several crore of rupees are stranded in border areas, sources here say.

“Though Karnataka in itself is not a major market for all industries and businesses here, it is a gateway to Maharashtra and Gujarat. Lorries were plying through Andhra Pradesh. However, with the floods, that is also affected,” said Vanitha Mohan, president of the Indian Chamber of Commerce and Industry, Coimbatore.

“We sell yarn and fabric in Maharashtra and buy cotton from Gujarat and Maharashtra. Even if textile mills here are willing to spend Rs. 5,000 or Rs. 10,000 more for lorries to ply through Andhra Pradesh, vehicles are not available,” said M. Senthil Kumar, chairman of Southern India Mills’ Association.

Source: The Hindu