Kashmir Shutdown Caused Losses Of More Than $1 Billion

Economic losses in Kashmir have run well over a billion dollars since India revoked its autonomy and statehood in August, the main trade body in the Himalayan region said, adding that it planned to sue the government for damages.

India turned its erstwhile state of Jammu and Kashmir into a federally-controlled territory. Tightening its control in the region in a shock move, it said would rein in militancy in the region also claimed by neighbouring Pakistan, and promote its development.

But the Kashmir Chamber of Commerce and Industry (KCCI) said development was elusive, thanks to a protracted shutdown after people closed markets and businesses as a mark of protest, and for fear of reprisals from insurgents.

voters