Chennai , June 24(BPNS)
A fire due to a short circuit on late Friday night engulfed around fifty shops in the Banyan street of the textile capital of South India, Tiruppur.
The fire has been doused by early Saturday morning after many shops have been gutted leading to huge losses.
However there was no deaths or injuries in the fire as almost all shops were shut down for the day.
It may be noted that many international brands of repute are made at Tiruppur. The annual turn over of the Tiruppur textile industry is around Rs 50,000 crores.
Sources in the industry told IANS that the fire has gutted around fifty shops and losses are estimated to be more than crores.
A businessman in Tiruppur while speaking to BPNS said,” The industry is already reeling under several issues including lack of orders in Europe due to the Ukraine -Russia war , shortage of raw materials and other issues. This loss will compound the losses of an already struggling industry.”
He also said that the exact losses will be assessed soon.