"Financial losses due to record breaking rainfall in Chennai and several parts of Tamil Nadu may even exceed Rs 15,000 crore mark," the chamber said.
Assocham also launched a drive to mobilise funds from its four lakh plus member organisations across India to contribute generously to provide rescue, relief and rehabilitation to victims of the incessant rains and floods in Tamil Nadu.
"We have urged our members, colleagues and common individuals to come together for generously donating to the Prime Minister's and Chief Minister's Relief Fund and extend quick and maximum help to the affected people in this hour of extreme crisis as the heavy rains have wreaked a havoc in Tamil Nadu.
"The torrential rains have caused massive human and property loss, our generosity will make a direct and meaningful difference to the lives of those affected, it is a serious matter and we need to work together to come out of this difficult time," said the industry body.
Apart from trade and industry, it is the common people. small and medium enterprises (SMEs) and auto ancillary units that have been worst affected by this catastrophe, it said.