The situation in the Indian-administered region of Kashmir has deteriorated into a government-enforced curfew; civilian casualties since June stand at 57, and organised resistance activities by the Muslim majority have resulted in a dangerous response. Indian police and paramilitaries have been accused of using lethal tactics in dealing with unarmed street demonstrators. If Kashmir spirals out of control, will the resulting political, military and diplomatic fallout result in an increase of business and financial risk for India?

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