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Removal of Article 370 will bring stability, market access, predictable laws to Kashmir: PM Modi

He added the government's decision to Revoke Article 370 would ensure stability, market access, and predictable laws in the state, which could help it gain investment, especially in key sectors like tourism, agriculture, IT, healthcare among others.

twitter-logo BusinessToday.In   New Delhi     Last Updated: August 12, 2019  | 10:11 IST
Removal of Article 370 will bring stability, market access, predictable laws to Kashmir: PM Modi
PM Modi says revocation of Article 370 will benefit the people of Kashmir

Prime Minister Narendra Modi has said the decision to bifurcate J&K was taken after a "great deal of thought" and that it would certainly benefit the people of Jammu and Kashmir and Ladakh. He said he was confident that after the abrogation of Article 370, the investment would start coming in. He said that leading businesses had already shown interest in investing in J&K.

In an interview to The Economic Times, PM Modi said that the government's decision to Revoke Article 370 would ensure "stability, market access, and predictable laws" in the state, which could help it gain investment, especially in key sectors like tourism, agriculture, IT, healthcare among others. "This will help develop an ecosystem which will give better rewards to the skills, hard work and products of the people in the region," said the PM.

"In today's world, economic growth cannot happen in a closed environment. Open minds and open markets will ensure that the youth of the region will put it on the path of greater progress. The integration gives a boost to investment, innovation and incomes," Modi said during the interview.

He said that with the opening of top educational institutes like IIT, IIM, AIIMs, people of the state would not only get better educational opportunities, they would also get a better workforce environment.

Modi said the BJP-led government at the Centre had accelerated several road, airport and rail line projects in the state, which would ultimately help in ease of doing business in the state. "Better connectivity, better linkages and better investment will help products of the region reach across the country and the world, leading to a virtuous cycle of growth and prosperity to the common man," PM Modi told the daily.

The Modi government recently revoked the contentious Article 370, which provided a special status to J&K and divided the state into two UTs -- J&K and Ladakh. Meanwhile, after eight days of curfew in the state, the Army has said the peace was prevalent in the Kashmir valley. However, the restrictions have been relaxed in some parts in the wake of Eid on Monday.

Also read: PM Modi wishes 'Eid Mubarak', Kashmir remains tense

Also read: PM Modi says will extend all possible help to support honest businesses

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