$ 2.40 billion loss to Kashmir economy after special status withdrawal

Srinagar, Ta. 18 December 2019, Wednesday

Kashmir's loss of trade status has cost its economy $ 1.8 billion after the withdrawal of its special status. "We have seen how badly every sector has been affected in the last four months and there is danger of being seen in this crisis," said a Kashmir Chamber of Commerce and Industry official.

In August this year, the government withdrew the constitutional independence of Jammu and Kashmir. Jammu and Kashmir, the only Muslim majority state in India, have been split into two Union Territories to be fully integrated into India. It is also believed to be a step towards liberating Kashmir from terrorism.

Thousands of security forces were deployed in Kashmir to change the status quo, apart from cutting the telecommunications system.

Most of the restraints have been withdrawn in phases, but the Internet service is still partially shut down. Local traders rely heavily on Internet service. The e-commerce trade has also been lost due to the closure situation since August, he said.

The government has claimed that this decision has been taken to develop Kashmir. It was also demanded that the government should compensate the local traders because of this decision.

Due to the discontinuation of telephone and internet service, the employees of the association had a chance to personally visit the traders and get information. While Kashmir's economy has been relying on tourism for decades, the decline of tourists in the current period has also affected the income of the locals.

Saffron and apples are a popular agricultural commodity in Kashmir. Local traders and farmers generate significant revenue through these commodities.