J&K agitation costs state industry Rs 1,500 cr: Chamber

Among the sectors worst hit by the agitation and state-wide protests are tourism, silk, hosiery, carpets, handicrafts, fruits, tourism, forest-based and herbal products, the chamber said.

“If the agitation continues, Jammu and Kashmir’s economy will suffer a major jolt as investors, who have committed over Rs 5,000 crore worth of investment for 2008-09, would venture into neighbouring states of Punjab, Haryana and Himachal Pradesh,” Assocham president Sajjan Jindal said.

The region has witnessed several violent protests during the last few days over the Amarnath land transfer row. The industries have also not been able to fulfil their respective export commitments.

Exports from the region have declined by about 30 per cent in view of the ongoing agitation, due to which movement of goods, particularly fruit and other items has come to a standstill, he said.