New Delhi, August 5: After the abrogation of Article 370, the government has planned a major investment summit in Jammu and Kashmir in October which will be attended by all the prominent leaders of India.

Sources said the summit is expected to take place around Dussehra as the government believed that scrapping of Article 370 will create conducive atmosphere for investments in the region. Article 370 Revoked, Jammu and Kashmir Loses Statehood: Mehbooba Mufti Calls it 'Darkest Day in Indian Democracy', Here's Who said What on Amit Shah's Announcement.

The government said the Article was one of the biggest stumbling blocks in the development of the state as it prevented non-Kashmiris from investing in land or property. It also prevented the industry to set up manufacturing units.

The government said the Article was an impediment in restricting private or global investment in the state. The officials hope that the situation will calm down and people will understand that the removal of the special status was for their own benefit.

(The above story first appeared on LatestLY on Aug 05, 2019 02:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).