SRINAGAR: Economic losses in Kashmir have run well over a billion dollarssince India revoked its autonomy and statehood in August, the main tradebody in the Himalayan region said, adding that it planned to sue thegovernment for damages.

India turned its erstwhile state of Jammu and Kashmir into afederally-controlled territory, tightening control in a shock move it saidwould rein in militancy in the region also claimed by Pakistan, and promoteits development.

But the Kashmir Chamber of Commerce and Industry (KCCI) said developmentwas elusive, thanks to a protracted shutdown after people closed marketsand businesses as a mark of protest, and for fear of reprisals frominsurgents.

It estimated economic losses ran into least 100 billion rupees ($1.40billion) by September, but now exceeded that, said Nasir Khan, its seniorvice 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 blackoutin the region meant the body could not reach business owners by telephoneto prepare estimates.

Instead, it had to send staff to meet them and gather details.