G20 In J-K Is a Complete Game-Changer, Will Open Business Opportunities

Despite resistance from Pakistan and China, New Delhi’s decision to host a meeting of Group of 20 or G20 countries in Srinagar, is set to be a game-changer not only for the economy of the valley, but a diplomatic victory for India. For people of Kashmir, who have seen violence for the last more than three decades, hosting the G20 summit is a matter of great pride. The G20 summit is a global signal that Kashmir is open for business.

Notably, this is for the first time after the abrogation of Articles 370 and 35-A, Jammu and Kashmir will be hosting an international event during which it can showcase its stunning beauty, its rich culture and extraordinary tourism potential to the rest of the world which in turn could trigger a virtuous economic cycle of greater investment, growth and employment generation. Handicrafts and tourism destinations of Kashmir will be highlighted on the global platform after the successful culmination of the grand event scheduled from May 22-25.

When Delhi hosted 1982 Asian Games, it turned a sleepy provincial city into a national engine of growth, and it is hoped the G20 summit will similarly transform Srinagar. The Kashmir Chamber of Commerce and Industry (KCCI) has rightly said that this event “will give a massive boost to the economy of the region.” The G-20 has emerged as the world’s premier intergovernmental forum, comprising both developed and developing countries. The bloc accounts for roughly two-thirds of the world population and 80% of world trade.

While Pakistan had lobbied its allies in G20, like Saudi Arabia Turkey and indeed China, to stop the meeting in Srinagar, only Beijing is likely ignore the Srinagar meeting, like in the case of Arunachal Pradesh. Around 50 delegates had participated in the G20 meeting in Arunachal Pradesh and the government is expecting a similar response to the event in Srinagar that will be an opportunity for India to refute Pakistan’s claims of human rights violations in Kashmir. The government will hope to convey to the world through the high-profile event that normalcy has returned in the Union Territory (UT).

India which took over the presidency of the G20, an economic cooperation bloc comprised of 19 countries and the European Union, in December of last year, shocked Pakistan and China by choosing Srinagar as the venue for the working committee meeting as part of the G-20 summit. By objecting to a normal G-20 meeting Pakistan seeks to play to the gallery back home and divert attention from political instability and the appalling state of the economy.

(With Input Feeds)