Letter to BS: Economic benefits stand out amid euphoria over Article 370

Army personnel stand guard during restrictions, in Jammu, Monday, Aug 05, 2019.Restrictions and night curfews were imposed in several districts of Jammu and Kashmir as the Valley remained on edge with authorities stepping up security deployment | PTI
This refers to "Hope, ambition for India Inc in J&K" (August 7). In addition to the prevailing political and social euphoria over the integration of Jammu & Kashmir (J&K) with the rest of the nation, a string of economic benefits are noteworthy. Restrictive legislations like Article 370 and 35A preventing ownership of property in J&K as also prohibiting employment to "outsiders" (referring to the rest of India) has for long hampered smooth economic movement and social development in the state. Manpower and human skills within J&K have not been effectively tapped as is apparent from its poor economic development. The state is rich in economic resources. However, apart from tourism, its rich natural resources have not been adequately tapped. Investment is now expected to flow in; the retail segment is also expected to grow. Overall there will be improvement in marketing, increase in the inflow of income and employment opportunities. These will, in turn, benefit the state and raise the standard of living of its people. 

Scrapping Article 370 and 35A will only improve the "ease of doing business". There will be freedom to acquire land and invest in commercial ventures. Similarly, the abundance of raw material will also encourage development of small and medium industries, promoting self employment. The prevailing political scenario has to stabilise to strengthen investor confidence to revive a dormant economy.

C Gopinath, Nair  Kochi
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