A fire caused by a short circuit gutted around 50 shops at Banyan Street in South India’s textile capital Tiruppur. The fire was brought under control by Saturday morning. Many shops were burnt to ashes. However, no one was killed or injured in the fire. Because almost all the shops were closed.
Many internationally renowned brands are manufactured in Tiruppur. The annual turnover of the Tiruppur textile industry is around Rs 50,000 crore.
Industry sources told IANS that around 50 shops were gutted in the fire and the loss is estimated to be over thousands of crores.
The industry is already grappling with several issues, including lack of orders in Europe due to the Ukraine-Russia war, shortage of raw materials and other issues, a Tiruppur-based businessman told IANS. The loss will add to the losses of those in an already struggling industry.
