KCCI president Sheikh Aashiq. KCCI president Sheikh Aashiq.

THE KASHMIR Chamber of Commerce and Industry (KCCI) has pegged the loss to the business sector at over Rs 10,000 crore, with over 1 lakh job losses, ever since the lockdown that followed the Centre’s decision to scrap J&K’s special status under Article 370.

“As per preliminary estimates, the loss to the business sector in Kashmir is over Rs 10,000 crore… Every business sector is badly affected. Tourism, handicraft, IT , transport and carpet sectors are the worst hit,” Sheikh Aashiq, KCCI president told The Indian Express. “The total loss and damage to business can be confirmed only after we come up with a comprehensive report,” he said.

He said state infrastructure projects, which were scheduled to be completed by 2019, have also been hit because the migrant labourers and other workforce have left Kashmir.

“The shutdown of Internet is the longest ever. I wonder if people living in the rest of India can imagine how to do business when there is no Internet, transport is off the roads, and shops are closed,” he said.

Saying that the private sector was the “worst hit”, Sheikh said companies and other business establishments have started to lay off staff. “The private sector is bleeding in Kashmir… There is expenditure, but no income… There have been over a lakh job losses because of the ongoing situation. Lakhs of people were associated with industries like tourism, carpet, transport, hotels,” he said.

He said there was no land available for young entrepreneurs who wanted to set up industries in the Valley. “The government has no land for them because 50-60% of the land here is forest land… I spoke to government officials who said there is no land available. There was an industrial estate in South Kashmir, for which maybe about 500 people applied, and only 50 got… They (government) are saying some big industries will come, but where will the land come from? Will locals get preference… Peace is a prerequisite for any business to prosper,” he said.

He said the current shutdown was a “spontaneous reaction from the people”. “Everyone knows that there is no call for a shutdown by anyone… I think a proactive and human approach by the government is the primary requirement,” he said.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest India News, download Indian Express App.