With Article 370 out of the way, veteran banker Uday Kotak has called for initiatives to drive growth and create job opportunities in Jammu and Kashmir. In a statement, Kotak said that the state has strong potential for development as it enjoys a range of natural resources and immense talent.
Both Houses of the Parliament have approved bifurcation of the northernmost state of India into two union territories of Jammu and Kashmir and Ladakh. This also negates the special status granted to Jammu and Kashmir by virtue of Article 370, allowing for its legal and economic integration with the rest of India.
“The region’s per capita NSDP at Rs 63,995 stands at about 55% of the national average, and agriculture accounts for 80% of the output. Strong efforts from the Government and industry, including local businesses, are the need of the hour to raise its growth rate and create new opportunities for employment and livelihoods,” the CII president designate said in statement on bifurcation of Jammu and Kashmir.
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