Industry welcomes scrapping of Article 370

New Delhi: Industry leaders on Monday hailed Narendra Modi-led government's decision to scrap Article 370 which gave special status to Jammu and Kashmir, saying it will ensure equality to residents of the state.

The industry leaders also saw the development as the BJP fulfilling an election promise of it.

"Of course, it (scrapping of Article 370) will pave the way for Jammu & Kashmir to attract large-scale investments," President of the PHD Chamber of Commerce and Industry Rajeev Talwar said.

He said since scrapping the Article was a part of the BJP manifesto, it has the support of a majority of people who voted the party to power with a decisive mandate.

Earlier in the day before the announcement was made, Mahindra group Chairman Anand Mahindra tweeted, "Cannot pretend this is just another Monday morning. The entire country is waiting to exhale over Kashmir.  Can only pray for the safety of everyone there & for an outcome that makes the nation stronger & the future more positive."

Narrating his personal experience, RPG Enterprises Chairman Harsh Goenka said also tweeted, "We used to have two beautiful factories, including a tulip garden in Kashmir. With militancy these had closed down. With the #Article370 revoked, I expect investments to return and the saying come back true— If there is heaven on earth, it is here, it is here, it is here."

JSW Group CMD Sajjan Jindal also took to social media in supporting the government's move. In a tweet, he said he had always believed that Article 370 should be abolished. "I support the @BJP on this decisive move. Also, glad to see them deliver on their election manifesto(sic)."

He further said, "#Article370 is a landmark decision by any standard.

It is a strong move by the @narendramodi & @AmitShah to abrogate #Article370. This ensures that #JammuAndKashmir enters Indian mainstream and becomes a part of our great nation’s collective growth #JaiHind”.

According to him, the 'archaic' Article 370 unfortunately worked against the common good of the Kashmiris.

"With its abolition, I am certain that nothing will stop peace, prosperity & harmony to grow in the valley and I hope that the community sees this only as a positive move for their benefit,” he said in another tweet.