Business leaders say amending Article 370 will attract big investments in Jammu and Kashmir

Leaders including Harsh Goenka, Sajjan Jindal and Motilal Oswal hailed the move by the Centre

August 05, 2019 08:12 pm | Updated December 04, 2021 11:52 pm IST - Mumbai

 Harsh Goenka. File

Harsh Goenka. File

Several chieftains of India Inc. have come out in favour of the Union government’s decision on the abrogation of Article 370, which grants special status to the state of Jammu and Kashmir.

Sajjan Jindal, chairman of JSW Group, tweeted, “I have always believed that Article 370 should be abolished — it’s existence was a result of unfortunate politicisation of the Kashmir Valley. I support the BJP on this decisive move. Also, glad to see them deliver on their election manifesto.”

Mr. Jindal said, “It is a strong move by Prime Minister Narendra Modi and Home Minister Amit Shah to abrogate Article 370 . This ensures that Jammu and Kashmir enters the Indian mainstream and becomes a part of our great nation’s collective growth.”

“The archaic Article 370 unfortunately worked against the common good of the Kashmiris. With its abolition, I am certain that nothing will stop peace, prosperity & harmony to grow in the valley and I hope that the community sees this only as a positive move for their benefit,” Mr. Jindal said.

Harsh Goenka, chairman of RPG Enterprises, said, “Revoking Article 370 will be remembered forever in the annals of history as a historic moment. We were one of the early investors in Kashmir when my father set up two factories in the late 80s and he was personally involved in creating a beautiful tulip garden getting seeds from Holland. I have absolutely no doubt that this landmark decision will spur investment but only when the unrest settles down. Not only will employment be created, tourism will see the good days once again.”

Mahindra Group chairman Anand Mahindra said, “The entire country is waiting to exhale over Kashmir. Can only pray for the safety of everyone there and for an outcome that makes the nation stronger and the future more positive.”

“It’s time for us all to embrace Kashmiris as an indistinguishable and inseparable part of our national community,” Mr. Mahindra added.

Manoj Gaur, chairman of Jaypee Group told The Hindu , “It’s a bold decision by a bold and visionary Prime Minister. Every citizen of India is proud. Every citizen of Jammu and Kashmir will reap benefits of this in the next 10 years.”

Motilal Oswal, CMD of Motilal Oswal Group, tweeted, “Post GST, we became one nation one tax. After J&K’s special powers are revoked, we have in a real sense become one nation. My compliments to Modi ji, Amit bhai and the whole BJP. Feel proud as a citizen.”

Ashish Chauhan, MD & CEO Bombay Stock Exchange, said,“This has been a historic day of great importance for India and Indian democracy. It is also a day of relief for most Indians. A long standing issue is in the process of being resolved today. It is time to re-integrate Kashmir into India in a true sense. Million thanks to the honourable Prime Minister, Honourable Home Minister and all members of Parliament for their courage, conviction and hard work in re-integrating an important part of India.”

Abhishek Lodha, MD & CEO Lodha Group said, “Great move. If the nation is integrated and strong, prosperity will follow. Like the 1998 nuclear tests, we may have some short-term problems but in the medium-term, will solve the Kashmir issue by enabling its economic and social growth. Hats off to PM and HM for their visionary move.”


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