Category: Business

Business

Economic package for J&K on cards: LG Manoj Sinha

Editor

Lieutenant Governor Manoj Sinha on Monday said the government will soon be announcing an “unprecedented economic package” which will cover not just the trade fraternity but all the sections in Jammu and Kashmir that have been affected by the downturn caused by the uncertainty. “This package will include everyone including the business community. I can assure you that this would be an unprecedented economic package which earlier has never come for J&K,” Sinha said. Addressing a press conference here, Sinha said the committee constituted to suggest a package for the…

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J&K performs poorly in BARP ranking, secures 21st rank Andhra tops ‘Ease of doing Business’

Editor

Andhra Pradesh for the third time in a row has topped in the ease of doing annual business ranking of states and Union Territories by the Department for Promotion of Industry and Internal Trade (DPIIT). The ranking is based on the implementation of the business reform action plan 2019 by states and UTs, according to a report released by Finance Minister Nirmala Sitharaman on Saturday. The exercise is aimed at promoting competition among states with a view to improving the business climate to attract domestic as well as foreign investments.…

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Another year of gloom for Kashmir’s famed apple industry

Editor

Farmers primarily engaged in growing apples in Kashmir said they are likely to face another year of losses due to the ongoing Covid-19 situation Shuja-ul-Haq Kashmir’s famous apple industry is looking at another year of gloom as several factors including Covid-19 pandemic contributed to lower production so far. Farmers who grow apples said they are facing issues since 2019 when Kashmir was shutdown after the abrogation of Article 370. This year, too, farmers are worried as their harvest is substandard.Ali Mohammad, an apple farmer in central Kashmir, feels his crop…

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Kashmir Tourism suffered Rs 1166 Cr loss during last one year: Tourism Dept

Editor

Kashmir tourism industry has suffered a massive Rs 1166.81 crore loss in the last one year due both to the situation post abrogation of special status of Jammu and Kashmir and the ongoing COVID-19 pandemic. The Tourism Department has quoted this figure in reply to a query made under RTI Act by rights activist MM Shuja. The reply states that there were only 17,874 tourist arrivals in Kashmir during 2020. It says that the data compiled by the department shows “drastic decline in tourist footfall due to COVID-19 pandemic and…

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Seven must have Handicrafts from Kashmir

Editor

Not only is Kashmir one of the most picturesque corners of India but also home to many handicrafts which speak volumes about the artistic expertise of the Kashmiri people Uttara Gangopadhyay Do not miss browsing through the handicrafts of Kashmir when you visit the region as travelling in the post pandemic world picks up. These will not only enhance your wardrobe or beautify your house but also make excellent souvenirs and gifts. Also, your support will help local artisans pursue the traditional crafts and not succumb to uneven competition from…

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Kashmir incurred Rs 45000 Cr loss due to successive lockdowns: Kashmir Trade Alliance

Editor

Successive lockdowns in the past one year have dented Kashmir’s economy by over Rs 45,000 crore as per the report released by a Valley-based traders’ body. Business establishments remained shut for months after the abrogation of Article 370 on August 5 last year and just when economic activities started picking up early this year, the lockdown due to Covid-19 pandemic wrecked the businesses. “Since August 5, 2019, the business community has suffered a total loss of Rs 45,000 crore. A loss of Rs 21,320.64 crore was incurred as a result…

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High-level committee constituted for revival of business sector in J&K

Editor

Government has constituted a high level committee for ‘relief and revival of business sector’ in Jammu and Kashmir. The committee has been asked to submit a ‘consolidated proposal’ by 1st September 2020. A day earlier, a delegation of Kashmir Chamber of Commerce and Industry (KCCI) had called on Lt Governor Manoj Sinha seeking “constitution of a committee for the revival of the businesses in J&K”. The committee constituted shall comprise of Advisor KK Sharma, Financial Commissioner, Finance Department, Commissioner/Secretary, Industries and Commerce Department, Commissioner Secretary, Tourism Department, and Chairman, Managing…

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Indefinite lock-down of business establishments in Kashmir a serious infringement on the rights of the business community to earn a livelihood: KCCI

Editor

A spokesperson of the Kashmir Chamber of Commerce and Industry today termed the indefinite lockdown of business establishments in Kashmir especially Srinagar as a serious infringement on the rights of the business community to earn a livelihood. Despite full cooperation extended by the general public and the business community, the administration appeared to be running around in circles since the previous five months and seem oblivious to the fact that the business community of Kashmir is presently in the 13th month of a disruption which has wiped out enterprises and…

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Internet Shutdowns, Pandemic have cost Kashmir Rs 40000 Cr and more than 5 Lakh jobs: Sheikh Ashiq President KCCI

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Kashmir Chamber of Commerce and Industry president Sheikh Ashiq Ahmad said the 2G internet currently available in the region is not enough for many businesses. Sheikh Ashiq Ahmad, president of the Kashmir Chamber of Commerce and Industry, has claimed that the internet restrictions imposed in the region since 5 August last year, and then the Covid-induced lockdown, have caused an economic loss of Rs 40,000 crore in the Valley alone, and that more than five lakh people across sectors are now jobless. Ahmad told ThePrint the industries hit the hardest…

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J&K to welcome tourists, but only Pre-booked, Air passengers allowed

Editor

Days after opening parks and gardens to the public, the Jammu and Kashmir administration on Sunday decided to open the tourism sector in a phased manner with effect from Tuesday but limiting it to tourists arriving by air only. However, it advised the tourists above the age of 65 years to avoid coming to the union territory and also announced compulsory RT-PCR testing of all tourists at the airport on arrival. Announcing the decision and the guidelines for entry of tourists in the UT in phase-1 valid with effect from…

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