SRINAGAR: Economic losses in Kashmir have run well over a billion dollars since India revoked its autonomy and statehood in August, the main trade body in the Himalayan region said, adding that it planned to sue the government for damages.
India turned its erstwhile state of Jammu and Kashmir into a federally-controlled territory, tightening control in a shock move it said would rein in militancy in the region also claimed by neighboring Pakistan, and promote its development.
But the Kashmir Chamber of Commerce and Industry (KCCI) said development was elusive, thanks to a protracted shutdown after people closed markets and businesses as a mark of protest, and for fear of reprisals from insurgents.
It estimated economic losses ran into least 100 billion rupees ($1.40 billion) by September, but now exceeded that, said Nasir Khan, its senior vice president.
“We’ll ask the court to appoint an external agency to assess the losses, because it is beyond us,” said Khan, adding that India’s telecoms blackout in the region meant the body could not reach business owners by telephone to prepare estimates.
Instead, it had to send staff to meet them and gather details.
India’s home ministry and local government officials did not respond to detailed requests for comment.
Besides severing telecoms links ahead of its decision, India imposed curbs on travel and sent thousands of troops to the heavily-militarised region, citing security concerns.
Some curbs have since been eased, but access to the Internet remains largely blocked.
India and Pakistan have tussled over Kashmir since independence from Britain in 1947, with each claiming the region in full but ruling it only in part.
For decades, India has battled insurgency in the portion it controls. It blames Pakistan for fueling the strife, but Pakistan denies this, saying it gives only moral support to non-violent separatists.
The clampdown has hit tourism as well as farming, horticulture and the arts and crafts that contribute the most to its export-oriented economy.
“I don’t see any stability for many months here,” said Vivek Wazir, who runs a hotel in Kashmir’s main city of Srinagar. “There’s too much uncertainty.”
Although a few years ago he planned to expand his business in Kashmir, Wazir said the hotel was now barely breaking even, and he was instead considering opening one in the neighboring Indian state of Himachal Pradesh.
India canceled an investor summit it had planned in Kashmir in October, and most tourists have stayed away after a spate of attacks on non-locals in recent weeks, which police blame on militants backed by Pakistan.
“I’d be surprised if any genuine investors came,” said Khan, adding that KCCI had received no inquiries from potential investors since August
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Kashmir shutdown caused losses of more than $1 bln, trade body says
Kashmir shutdown caused losses of more than $1 bln, trade body says
- Kashmir Chamber of Commerce and Industry (KCCI) said that it is planning to sue the government for damages
- India's home ministry and local government officials did not comment on the losses report
Cambodia says Thailand still bombing hours after Trump truce call
BANTEAY MEANCHEY, Cambodia: Cambodia’s defense ministry said Saturday that Thailand continued dropping bombs on its territory hours after US President Donald Trump said the neighbors had agreed to stop fighting.
The latest clashes between the Southeast Asian neighbors, which stems from a long-running dispute over the colonial-era demarcation of their 800-kilometer (500-mile) frontier, have displaced around half a million on both sides.
Each side had blamed the other for reigniting the conflict.
“On December 13, 2025, the Thai military used two F-16 fighter jets to drop seven bombs” on a number of targets, the Cambodian defense ministry said in an X post.
“Thai military aircraft have not stopped bombing yet,” it said.
It came after US President Donald Trump said Friday that Thailand and Cambodia had agreed to halt fighting along their disputed border, which has killed at least 20 people this week.
“I had a very good conversation this morning with the Prime Minister of Thailand, Anutin Charnvirakul, and the Prime Minister of Cambodia, Hun Manet, concerning the very unfortunate reawakening of their long-running War,” Trump said on his Truth Social platform.
“They have agreed to CEASE all shooting effective this evening, and go back to the original Peace Accord made with me, and them, with the help of the Great Prime Minister of Malaysia, Anwar Ibrahim,” he said, referring to a deal made in July.
“Both Countries are ready for PEACE and continued Trade with the United States of America,” Trump noted, thanking Anwar for his assistance.
Anutin had said earlier, after his call with Trump: “It needs to be announced to the world that Cambodia is going to comply with the ceasefire.”
“The one who violated the agreement needs to fix (the situation) — not the one that got violated,” Anutin said, adding that the call with Trump “went well.”
The United States, China and Malaysia, as chair of the regional bloc ASEAN, brokered a ceasefire in July after an initial five-day spate of violence.
‘Peaceful means’
In October, Trump backed a follow-on joint declaration between Thailand and Cambodia, touting new trade deals after they agreed to prolong their truce.
But Thailand suspended the agreement the following month after Thai soldiers were wounded by land mines at the border.
“Cambodia has always been adhering to peaceful means for dispute resolutions,” Hun Manet said in a Facebook post Saturday after his call with Trump.
He added that he had suggested the US and Malaysia could use their information gathering capabilities “to verify which side opened fire first” on December 7.
Anutin said there were “no signs” Trump would connect further trade talks with the border conflict, but that he had guaranteed Thailand would get “better benefits than other countries.”
Anutin dissolved Thailand’s parliament on Friday after three months in office, paving the way for general elections early next year.
The latest clashes between the Southeast Asian neighbors, which stems from a long-running dispute over the colonial-era demarcation of their 800-kilometer (500-mile) frontier, have displaced around half a million on both sides.
Each side had blamed the other for reigniting the conflict.
“On December 13, 2025, the Thai military used two F-16 fighter jets to drop seven bombs” on a number of targets, the Cambodian defense ministry said in an X post.
“Thai military aircraft have not stopped bombing yet,” it said.
It came after US President Donald Trump said Friday that Thailand and Cambodia had agreed to halt fighting along their disputed border, which has killed at least 20 people this week.
“I had a very good conversation this morning with the Prime Minister of Thailand, Anutin Charnvirakul, and the Prime Minister of Cambodia, Hun Manet, concerning the very unfortunate reawakening of their long-running War,” Trump said on his Truth Social platform.
“They have agreed to CEASE all shooting effective this evening, and go back to the original Peace Accord made with me, and them, with the help of the Great Prime Minister of Malaysia, Anwar Ibrahim,” he said, referring to a deal made in July.
“Both Countries are ready for PEACE and continued Trade with the United States of America,” Trump noted, thanking Anwar for his assistance.
Anutin had said earlier, after his call with Trump: “It needs to be announced to the world that Cambodia is going to comply with the ceasefire.”
“The one who violated the agreement needs to fix (the situation) — not the one that got violated,” Anutin said, adding that the call with Trump “went well.”
The United States, China and Malaysia, as chair of the regional bloc ASEAN, brokered a ceasefire in July after an initial five-day spate of violence.
‘Peaceful means’
In October, Trump backed a follow-on joint declaration between Thailand and Cambodia, touting new trade deals after they agreed to prolong their truce.
But Thailand suspended the agreement the following month after Thai soldiers were wounded by land mines at the border.
“Cambodia has always been adhering to peaceful means for dispute resolutions,” Hun Manet said in a Facebook post Saturday after his call with Trump.
He added that he had suggested the US and Malaysia could use their information gathering capabilities “to verify which side opened fire first” on December 7.
Anutin said there were “no signs” Trump would connect further trade talks with the border conflict, but that he had guaranteed Thailand would get “better benefits than other countries.”
Anutin dissolved Thailand’s parliament on Friday after three months in office, paving the way for general elections early next year.
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