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Japanese Firms Hit Hard by Floods: JETRO

Published: 11th December 2015 05:46 AM  |   Last Updated: 11th December 2015 05:46 AM   |  A+A-

CHENNAI: Japanese firms in the city have been severely affected by the floods but the extent of damage is yet to be ascertained, according to Japan External Trade Organisation (JETRO) Chennai.

JETRO Director General Hidehiro Ishiura said all Japanese companies in Oragadam or in other places have been affected in one way or the other.

Japan is among the countries which have invested heavily in Chennai and has been instrumental in extending funds to build the infrastructure of the city.

As per information available with Express, there has been a 56 per cent growth of Japanese companies in Chennai from October 2013 to October 2014. As on October 2014, there were 3,961 establishments against 2,542 in October, 2013. And this is expected to rise further after the Global Investment Meet.

Most of the companies are also seeking the state and Central government’s help to reimburse the losses. “We are Japanese incorporated Indian companies and are eligible for any aid from Indian government,” Ishiura said. Some of the companies that have been hit hard are also planning to seek aid from Japanese government. “This may happen at a later stage once the damages are ascertained,” he added.

To a query whether the recent floods might force a few companies to shift to alternative locations, Ishiuro said it would be decided after three months. “We will conduct a review and then decide on it,” he maintained.

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