Amid complete communication blackout and curfew in Jammu and Kashmir after abrogation of Article 370 last week, traders body has said that they suffered a loss of Rs 1,000 crore.
The move divided Jammu and Kashmir into two union territories.
“The average loss of business per day in Kashmir today is to the tune of at least Rs 175 crore as life has come to a standstill due to the restrictions imposed by the authorities,” a member of the Kashmir Chamber of Commerce and Industry (KCCI) told news agencyPTI.
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The trade body leader requested anonymity as “I do not want any trouble from the authorities”.
Bakeries and livestock dealers have been the worst-hit by the restrictions as people are not able to come out of their homes to make purchases. The bakery owners stand to suffer losses to the tune of Rs 200 crore as their products have a lesser shelf life,” he was quoted as saying.