Centre plans major investment summit in Kashmir

Sources said the summit is expected to take place around Dussehra as the government believed that scrapping of Article 370 will create a conducive atmosphere for investments in the region.

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Published : Aug 5, 2019, 7:42 PM IST

New Delhi: After the abrogation of Article 370, the government has planned a major investment summit in Jammu and Kashmir in October which will be attended by all the prominent leaders of India.

Sources said the summit is expected to take place around Dussehra as the government believed that scrapping of Article 370 will create a conducive atmosphere for investments in the region.

The government said the Article was one of the biggest stumbling blocks in the development of the state as it prevented non-Kashmiris from investing in land or property. It also prevented the industry to set up manufacturing units.

The government said the Article was an impediment in restricting private or global investment in the state. The officials hope that the situation will calm down and people will understand that the removal of the special status was for their own benefit.

New Delhi: After the abrogation of Article 370, the government has planned a major investment summit in Jammu and Kashmir in October which will be attended by all the prominent leaders of India.

Sources said the summit is expected to take place around Dussehra as the government believed that scrapping of Article 370 will create a conducive atmosphere for investments in the region.

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Scrapping Article 370 to ensure equality to people of J&K: Industry leaders

New Delhi, Aug 5 (PTI) Industry leaders on Monday hailed Narendra Modi-led government's decision to scrap Article 370 which gave special status to Jammu and Kashmir, saying it will ensure equality to residents of the state.
The industry leaders also saw the development as the BJP fulfilling its election promise to do away with the article.
"Of course, it (scrapping of Article 370) will pave the way for Jammu and Kashmir to attract large scale investments," President of PHD Chamber of Commerce and Industry Rajeev Talwar told PTI.
He further said since doing away with Article 370 was a part of the BJP's manifesto, it has the support of a majority of people in the country who voted the party to power with a decisive mandate in the recently held general elections.
Talwar said the government's move was good for the people of Jammu and Kashmir and for its development.
Earlier in the day before the announcement was made, Mahindra group Chairman Anand Mahindra tweeted, "Cannot pretend this is just another Monday morning. The entire country is waiting to exhale over Kashmir. Can only pray for the safety of everyone there & for an outcome that makes the nation stronger & the future more positive."
Narrating his personal experience, RPG Enterprises Chairman Harsh Goenka said also tweeted, "We used to have two beautiful factories, including a tulip garden in Kashmir. With militancy these had closed down. With the #Article370 revoked, I expect investments to return and the saying come back true -- If there is heaven on earth, it is here, it is here, it is here."
JSW Group CMD Sajjan Jindal also took to social media in supporting the government's move.
In a tweet, he said he had always believed that Article 370 should be abolished.
"I support the @BJP on this decisive move. Also, glad to see them deliver on their election manifesto(sic)," Jindal tweeted.
He further said,"#Article370 is a landmark decision by any standard. It is a strong move by the @narendramodi & @AmitShah to abrogate #Article370. This ensures that #JammuAndKashmir enters Indian mainstream and becomes a part of our great nations collective growth #JaiHind.
According to him, the 'archaic' Article 370 unfortunately worked against the common good of the Kashmiris.
"With its abolition, I am certain that nothing will stop peace, prosperity & harmony to grow in the valley and I hope that the community sees this only as a positive move for their benefit, he said in another tweet.
The government revoked Article 370 and proposed that the state be bifurcated into two union territories, Jammu and Kashmir, and Ladakh, a bold decision that seeks to tackle head-on the vexatious 72-year-old problem wracking the soul of the nation.
Union Home Minister Amit Shah made a statement in Rajya Sabha on the same, fulfilling the electoral promise of the BJP.
While it sent a wave of jubilation among government supporters and others, it also provoked outrage from the NC and the PDP, the principal political parties in Jammu and Kashmir. PTI RSN NKD RKL
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Centre plans major investment summit in Kashmir

Sources said the summit is expected to take place around Dussehra as the government believed that scrapping of Article 370 will create a conducive atmosphere for investments in the region.

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