The heavy rains over the last few days has severely hurt the economy of Surat and Hazira, considered to be the industrial hubs of Gujarat. Even though water has still not fully receded from the streets of the city, businessmen in the state — especially diamond units in Surat — have started counting their losses.

The South Gujarat Chamber of Commerce and Industry has estimated the combined losses — including damage to machinery, equipment, property and the trade — to be Rs 8,000 crore. Surat has close to 10,000 diamond units and also houses a large number of textile units. However, the diamond community is at variance over the losses incurred by the sector. ‘‘The sector will stand to lose close to Rs 10,000 crore due to this floods. Nearly 10,000 diamond units in the city have remained closed due to these rains,’’ Mumbai Diamond Merchant’s Association president Navin Mehta said.

However, officials of the Gem and Jewellery Export Promotion Council (GJEPC) say that the figure could not be this high. ‘‘Yes losses would have been severe but we have still not been able to ascertain the figures. However, it would take a minimum of three weeks for the industry to get back on its feet,’’ GJEPC chairman Bakul Mehta said.

Meanwhile, the textile industry has also taken a huge hit with a bulk of the powerloom units being closed during the floods. Industry trackers estimate the loss to textile units to be close to Rs 500 crore. Raw materials used in the sector like yarn and cotton have also been spoiled due to the rains.

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