NEW DELHI, June 27: The Delhi-backed chief minister of Jammu and Kashmir said on Monday that his Himalayan region was no longer a bone of contention between India and Pakistan, rather it was now a bridge of friendship between the two. Mufti Mohammed Sayeed, whose People’s Democratic Party is a member of India’s ruling United Progressive Alliance (UPA), told a meeting of Indian chief ministers in New Delhi that prospects of peace in the Valley were now fairly visible.

“The state of Jammu and Kashmir, instead of being the bone of contention, is becoming a bridge of friendship among the two nations,” Mr Sayeed said at the meeting with Prime Minister Manmohan Singh presiding.

He said the economic development of India and Pakistan could get a boost “if the scarce resources are invested in programmes of development and poverty alleviation rather than being spent on preparation for armed conflict.”

“Peace is a sine quo non for the development of Jammu and Kashmir state, where tourism has been a major source of income,” he added.

The state is expecting that the number of tourists would cross one million figure this year, Mr Sayeed said. This was helping to create a favourable atmosphere for private investments as well. “We are expecting an investment of Rs 500 billion from private investors in the industrial sector this year,” said Mr Sayeed.