Removal of provisions under Article 370 will open up huge trade opportunities in both Jammu & Kashmir and Ladakh, apex exporters' body FIEO said on Wednesday.
Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said this step would help increase trade in sectors such as carpets, handicrafts, sports goods, horticulture and food processing.
"Scrapping Article 370 will not only bring in huge trade and business opportunities for both the regions but will also help get the troubled region to stand on its feet," Saraf said in a statement.
Strong efforts from the government, trade and industry including handholding of local businesses is the need of the hour today, he said.
"This multiplier effect would increase the employment opportunities in both the regions," he added.
He said opportunities exist in the other key sectors also including pharmaceuticals, information technology/information technology-enabled services, electronics and leather.
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