Impact of Article 370 Fallout: Kashmir becoming next hub for Indian Companies

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With the abolishment of Article 370 and 35A, Kashmir is set to become the next hub for Indian Companies. Many of them have already started rushing to Kashmir for establishing their manufacturing facilities. Although Pakistan has cut down all the bilateral relations with India, there will be no impact of the same on Indian Economy.

We’ve already explained the reason why manufacturing companies will eye on Kashmir in our article on Do You Want to Own Property in Kashmir? This is How You Can Get it in Cheapest Way!

In this article, we will update you with the organizations who are set to make Kashmir as their next destination.

Which Industries are coming forward?

More job opportunities will be created in Kashmir after the scrapping of Article 370 & 35A

Puneet Dalmia, Managing Director of Dalmia Bharat Group quotes,

“Investments in J&K is on a top agenda of many corporations. As a result, in the next 5 years, there will be tremendous job opportunities in the valley.”

Not only in industries, but also among tourist there will be more and better options available in Kashmir.

Aditya Loomba, Joint Managing Director of Eco Rent a Car said,

“Abolishment of Article 370 will open the doors of development in Kashmir. Because of restrictions, there was an absence of required infrastructure in the valley. However, in the upcoming years, we will notice the availability of basic amenities which tourists expect.”

It is noteworthy that well-known Helmet manufacturer Steel Bird has already offered to establish their manufacturing plant in Kashmir. Kashmir will be a host to an investor summit in the month of October. Steelbird is hoping to get necessary permissions for establishing the plant during that summit.

How difficult is the path of development of Kashmir?

Although the road seems so much smoother, the path is difficult. The first major task, organizations have to think of is to prepare the locals. These local residents aren’t having much experience in dealing with the MNCs. Therefore, federations such as FICCI, FIEO and CII are coming forward to their assistance.

These organizations are planning to attract investors to invest in Jammu, Kashmir and Ladakh. Besides that, they will also handhold the local traders while dealing with the corporates. With the joint efforts from both organizations and these federations, they are planning to flourish the economy of the region.

In one such statement, Sharad Kumar Saraf, President of FIEO said,

“Jammu and Kashmir including Ladakh are an area of strong potential for development as it enjoys a range of natural resources and immense talent. Strong and dedicated efforts from the government, trade and industry including handholding of local businesses is the need of the hour today to further help push its growth rate and create new jobs and livelihoods in the region. This multiplier effect would increase the employment opportunities and contribute to India’s overall prosperity and growth & development of the country,”

We hope that the issues, this region of India are facing since ages will be resolved now. We as a citizen must support to make Kashmir again the HEAVEN ON EARTH.