Calls for similar compensation for J&K Industry
The Biz Reporter
Srinagar, Nov 16: The Kashmir Electrical Equipment Manufacturers Association (KEEMA) fully supports the recent statement by Nasir Aslam Wani, Advisor to the Honorable Chief Minister, advocating compensation for Jammu and Kashmir (J&K) for the substantial losses incurred under the Indus Water Treaty (IWT). KEEMA views this as a commendable and necessary step toward addressing a long standing issue that has adversely affected the region’s people and the industries in particular said KEEMA spokesperson Mukhtar Yousuf.
This loss of control has slowed down the region’s economic growth, particularly in areas like energy production and manufacturing, which heavily depend on access to water.
Essentially, the treaty prioritized larger political goals over J&K’s local needs, leading to economic challenges in key sectors said Yousuf,
Raja Nayeem Ahmed Khan, President of KEEMA, while highlighting the pressing need for similar compensation for the setbacks faced by J&K’s industry stated, “Post accession to the Union of India, Kashmir was , reduced to the tail end position of the country and shifted the economical and industrial activities of the region and relegated Kashmir from a flourishing industrial hub to a region struggling to sustain its industries. This transition left the valley economically / geographically marginalized, and rendered it backward .
Kashmir, once a vibrant trade hub on the historic Silk Route ,exporting goods globally, lost its strategic economic position post-accession. This marginalization, compounded by resource constraints, has significantly hindered the growth of the manufacturing sector and contributed to the economic stagnation of Jammu and Kashmir, particularly the valley.
Secretary-General of KEEMA, Waseem Ahmed Khateeb, underscores the urgency of addressing these setbacks,
Fair compensation for the historical disadvantages faced by J&K’s industries is essential to restore equity and drive sustainable development. The demand for compensation under the IWT and for addressing the economic setbacks post-accession is not about dwelling on the past but about ensuring justice and creating a level playing field for the region’s industries and it’s people.
While KEEMA applauds the government’s recognition of these challenges , it urges all stakeholders to work collaboratively toward solutions that rebuild J&K’s industrial base. A focused approach will not only revive the region’s economic potential but also create a brighter and more sustainable future for its industries and communities. This pragmatic vision is essential to addressing historical inequities and paving the way for holistic development in J&K.
