Agencies: An estimated loss of over 15 billion rupees has occurred in the last two weeks, due to continued agitation in J&K area, as per information from the Associated Chambers of Commerce and Industry of India.

The industrial sectors affected in the state include tourism, fruits, hosiery, carpets, handicrafts, dry fruits, forest-based products and herbs, Sajjan Jindal, president of the association, said in a statement on Wednesday.

The exports figure for Jammu have shown a slide of almost 30 percent, while silk and handicraft industries, leather products, fruit juice concentration and processed food have also suffered enormously, the trade body said.

The agitation if it continues could have an impact on the investors of the state who have committed over 50 billion rupees of investment for 2008/09 and they may depart to other destinations in neighbouring states, the association said.

Investments in the Jammu & Kashmir region has surged nearly 10 times in six years to more than $2.3 billion in 2007, it said.

The association had earlier estimated fresh investments of about 280 billion rupees in the state with export potential of 130 billion by 2012, but the agitation has marred these projections, it said.

A simmering land dispute has polarised Indian Kashmir, split between Muslim-majority Kashmir valley and the Hindu-dominated region around Jammu city, severely curbing trade between the two areas.

---