Kashmir’s top trade and commerce body on Thursday said the tourism business and handicraft export sectors—apart from general trade—are witnessing a steep decline and the state and central government should “take effective steps” in this regard.
Kashmir Chamber of Commerce and Industry (KCCI) said it feels concerned about the situation “arising out of downfall of business in tourism, handicraft exports and general trade in the Valley.”
“The low turnover and resultant liquidity position in the market has left the stakeholders high and dry, leading to fears of total collapse of economic activity in the valley,” a spokesman of KCCI said in a statement. “While the influx of tourists to Kashmir is negligible, affecting hoteliers transporters/taxi operators/shikara walas, the off take of handicraft product is miserable, leading to lay off of the artisans.” The spokesman said the handicraft export has witnessed sharp decline over the past two years as it fell down from Rs 1695.16 crore in 2013-2014 to Rs 1287.04 crore in 2014-15. “It is on further decline, recorded to have been Rs 160.92 crore (at 2015-16 ending September 2015) as against Rs 201.20 crore for the corresponding period of 2014-15,” he said.
