Thanks to recent Indo-Pak hostilities and uncertainty over hearing of Article 35A in Supreme Court, Kashmir businesses do not see any hope coming out of prolonged slump.
The economic condition of Kashmir may further deteriorate due to dwindling tourist footfall, traders say.
Commenting on the current business sentiments in Kashmir, president Kashmir Chamber of Commerce and Industries Sheikh Ashiq
“Important driving forces of
Ashiq said peace is pre-requisite for thriving economy. “Civilian killings, political conflict are the main reasons for
The other factor which according to the business community this year led to
“Irony is that not a single place in
Khan said markets here are presenting a sordid tale of Kashmir economic depression. “Tourism is not picking up, last year our horticulture produce too suffered losses due to untimely snowfall which further complicated the situation,” he said.
While businesses in Kashmir continue to bleed losses, the hospitality sector
He said that now tourism departments along with stakeholders are trying their best to promote Kashmir tourism and remove negative perception being propagated by outside media against Kashmir.