Industry chamber: 370 crore loss to 370 in Kashmir after cancellation of ban

Srinagar, Ta. Monday 28 October 2019

The last three months of ban in Kashmir after the cancellation of Article 370 has damaged the Valley's business community by more than Rs 10,000 crore. An industry chamber in Kashmir has made this claim.

Article 370 was repealed on August 5 this year and since then it has been 84 days till Sunday. The main markets of the valley are now closed. There are no public vehicles on the road.

In some areas like Lal Chowk in Srinagar, shops are open for a few hours but the main market is still closed. Sheikh Ashik, president of the Kashmir Chamber of Commerce and Industry, said the situation was not normal. So much damage has been done. It's not easy to estimate right now but

The tweak is so big that paying for it is not easy. The loss of businessmen in Kashmir has exceeded Rs 10,000 crore and all sectors have been badly affected. Three months have passed now but the situation is such that people are not trading.

There have been some movements in recent weeks, but feedback is finding that trade is fading. The biggest reason for the loss of business is because the Internet services are closed.