Traders’ Union cheers Article 370 scrapping; says move will unlock real business potential

By: |
August 6, 2019 3:41 PM

Confederation of All India Traders and Chamber of Traders Federation, Jammu have cheered the BJP government’s recent move to scrap Article 370 and said that the same will help in unlocking the real trade potential in the state.

jammu and kashmir, kashmir, valley, economy, education, politics, health, poverty, employment Article 370 conferred special status to Jammu and Kashmir. (Bloomberg image)

Confederation of All India Traders and Chamber of Traders Federation, Jammu have cheered the BJP government’s recent move to scrap Article 370 and said that the same will help in unlocking the real trade potential in the state. “We can foresee a great future ahead for all the people as the doors to development have been opened,” trade leaders said. The trader’s body also said that with the withdrawal of the section, “trade in Jammu and Kashmir will be more strong and the potential for business and trade will increase tremendously,” Praveen Khandelwal, CAIT General Secretary, said in a statement. Also, the removal of Article 370, which conferred special status to the state, translates into the abolition of toll tax. “Our long-time demand has been fulfilled,” said CTF President Neeraj Anand.

Stating that the decision has the support of 7 crore Indian traders, CAIT said that it will still be requiring hand-holding for some time and said that the valley is full of opportunities for all-round development. 

Meanwhile, the Confederation of All India Traders has been vocal in the past as well, about various developments across trade and commerce front. Recently, the small trade union had lauded the government scrutiny over Jeff Bezos’ Amazon and said that the “Opening investigation by EU amply endorses the complaints of CAIT which are being made against global e-commerce players conducting business activities in India,” CAIT General Secretary Praveen Khandelwal had said earlier. The union had also accused the e-commerce behemoth of unfair practices and market distortion. In India, the government had released a draft e-commerce policy after several complaints against the e-commerce platforms. 

The trader’s body had also welcomed Nirmala Sitharaman’s maiden budget and called it revolutionary. The government had announced pension benefit to about 3 crore retail traders and small shopkeepers having less than 1.5 crores in annual turnover. The same had been a long-standing demand of the traders’ community. 

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