UAE, Saudi look to invest in Indian-administered Kashmir after Modi government ends 'special status'
UAE, Saudi look to invest in Indian-administered Kashmir after Modi government ends 'special status'
Dozens of investors from the Gulf states and around the world arrived in Kashmir looking for business opportunities after the Modi government ended the special status for India's only Muslim-majority territory.
2 min read
Kashmir, known for its pristine beauty, is now viewed as an investment opportunity by the likes of Saudi Arabia and the UAE [Getty]
Investors from several countries, including the Ìý²¹²Ô»å , arrived in Kashmir earlier this week seekingÌýinvestment opportunities in the disputed region, according to multiple reports.
The visit comes weeks after the local Indian-administered Kashmiri governmentÌýsigned agreements with various investors at the Ìýin January this year.
"During the international summit (in the UAE), there was lot of interest with regard to Jammu and Kashmir," said Ranjan Prakash Thakur, a senior member of the local government, according to the .
"Most of them had doubt that the situation (in Kashmir) is not very good, that it is a conflict zone. We invited them so that they see for themselves and understand the situation."
The investorsÌýrepresent a variety of sectors including real estate, hospitality, agriculture and food processing,Ìý²¹²Ô»å want to capitalise on Kashmir after India's Hindu nationalist government unilaterally revoked its autonomous status for the region in August 2019.
Investment by Muslim-majority states in Kashmir is seen as a major victory for India in its attempt to legitimise its hold on Kashmir, which is also claimed by Pakistan. Many Kashmiris want an independent state.
The move by the Gulf states has been met with some criticism in Pakistan, which is currently hosting delegations from both the UAE and Saudi Arabia at the Organisation of Islamic Cooperation (OIC) Summit in .
A 40 member delegation of UAE is in Indian Occupied Jammu Kashmir on the request of Indian govt to invest as per policy of BJP to fulfil Indianisation of occupied Kashmir.
— Raja Muhammad Farooq Haider Khan (@farooq_pm)
Raja Farooq Haider Khan, former prime minister of Pakistan-administered Kashmir, tweeted that this is attempt by the Modi government to "fulfil Indianisation of occupied Kashmir".
WhileÌýIndia's revocation of Kashmir's special statusÌýhas opened the doors to foreign investment, it meant that Kashmiris lost their constitution, flag, and ability to govern themselves.
India’s only Muslim-majority state was subsequently carved into two territories, stoking fears that New Delhi aims to alter the demographics of this region.
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