The Jammu and Kashmir’s First Global Investors Summit scheduled held at Srinagar on October month has been postponed. This has been reported by the national media. The Confederation of Indian Industries and JK Trade promotion Organization were supposed to jointly host the event.
” It is not the situation. Our priority right now is to smoothen the transition process from state to union territory”, a senior official of the state told a national media.
Earlier on August 5, the Union government has announced that a investor’s meet will be held between October 12 and 14. This was announced just after the abrogation of Article 370.
The union government has scrapped the Article 35 which banned people outside jammu and Kashmir in investing and buying land in the state. This decision of government hoped that will result in a flow of investment to the state.
But after the scrapping of special status of the state, the region is under security lockdown and communication blackout with severe restrictions.
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