Indian Held Kashmir Shutdown Caused Losses of More Than $1 billion

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

India turned occupied Jammu and Kashmir into a federally controlled territory, tightening control in a shock move it claimed would rein in ‘militancy’ in the region 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.

It estimated economic losses ran into least $1.40 billion by September, but now exceeded that, said Nasir Khan, its senior vice president.

“We’ll ask the court to appoint an external agency to assess the losses, because it is beyond us,” said Khan, adding that India’s telecoms blackout in the region meant the body could not reach business owners by telephone to prepare estimates.

Instead, it had to send staff to meet them and gather details.

India’s home ministry and local government officials did not respond to detailed requests for comment.

As 108 days of curfew passed on, besides severing telecoms links ahead of its decision, India imposed curbs on travel, arrested local leadership and sent thousands of troops to the heavily militarised region, citing security concerns.

Few curbs have been eased, but access to the internet remains largely blocked.

The clampdown has hit tourism as well as farming, horticulture and the arts and crafts that contribute the most to its export-oriented economy.

The residents of the Kashmir Valley and Muslim majority areas of Jammu and Ladakh regions continue to simmer with anger and anguish over India’s illegal move of stripping the special status of the territory.

In order to cater to the daily needs of masses, shops do open but only for a few hours in the morning and evening and roadside vendors are also seen selling essential commodities.

The people in the occupied territory especially in the Kashmir Valley have been living under a heightened military presence, without basic civil liberties and access to phones and internet since August 5, 2019.