Special Status For Jammu And Kashmir Has Gone, But Outside Investors Cannot Buy Land There scroll.in

When the Centre stripped Jammu and Kashmir of special status under Article 370 and split the state into two Union Territories, one of the main rationales given for the decision was this: special status as a “hurdle for the development of Kashmir”. At the same time, it revoked Article 35A, which enabled the government of the former state to define “state subjects” and reserve for them certain rights, including the right to own land in Jammu and Kashmir.

As part of its development agenda in Jammu and Kashmir, the government is organising a global investors summit, scheduled to take place in April. An earlier attempt in October had to be aborted because of the security situation. The government’s stated aim: to draw outside investment to the region now that it is free of the restrictions imposed by special status.

Starting February 17, 54 bureaucrats have fanned out across major cities in the country, holding roadshows, wooing investors. International roadshows are also on the cards, said the government in a press statement, while “mini conclaves” will be held in Srinagar and Jammu in March 2020. Meanwhile, the government is creating land banks for prospective outside investment.