Trade body urges Centre to take steps to revive businesses in Kashmir

The Kashmir Chamber of Commerce and Industry (KCCI) on Sunday (December 15) asked the Centre to take steps for revival of businesses in Kashmir, saying the valley’s economy has suffered losses of almost ₹15,000 crore due to restrictions imposed in the wake of abrogation of Article 370 on August 5.

KCCI president Sheikh Ashiq Hussain, who was among the several trade bodies’ heads who met the Union Minister of Commerce and Industry, Piyush Goyal in Jammu, also urged the government to restore interest services to businesses in Kashmir.

“I informed the minister about the estimated losses which are to the tune of ₹15,000 core over the last four months,” Hussain said after the meeting. He said that the KCCI has prepared a report on business and job losses caused by the disturbances after the Centre revoked Jammu and Kashmir’s special status and divided into two union territories.

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“We informed the minister that all the business sectors have been been hit and industry leaders from all the sectors have given written representations in this regard to the chamber. A comprehensive report will be submitted to the Lieutenant Governor very soon,” he said.

Hussain said the minister listened to the trade representatives patiently and asked them to send a copy of their report to him as well. “The minister told us that a follow up meeting might be needed in this regard in Delhi,” he said.