Category: Business

Business

KCCI & JCCI to work in Unison stay away from politically sensitive issues

Editor

The Kashmir Chamber of Commerce and Industry (KCCI) and its counterpart Jammu Chamber of Commerce and Industry (JCCI) have joined hands to work on issues confronting various business sectors and overall development of the state. In a joint press conference held at KCCI office in Srinagar on Friday, the presidents of both KCCI and JCCI put forth several demands, which both the chambers would be raising with the government but vowed to avoid raking up any conflicting issues. “With regard to policy matters and issues wherein there are divergent views,…

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Negative publicity hurting tourism in Kashmir: Travel Industry

Editor

Travel agents from several parts of the country and abroad feel that the situation in Kashmir was not being portrayed “correctly” and that negative publicity was hurting the tourism sector in the valley. A group of travel agents from several cities of the country and Thailand, on a familiarisation tour of Kashmir, visited prominent destinations such Gulmarg, Pahalgam and Sonamarg. “Before sending tourists to Kashmir, we wanted to visit ourselves and we found everything is good. I appreciate how people are so nice and friendly with the tourists. Tourists are…

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GST ‘Rollback’ attempt to confuse people: Industry

Editor

The Associated Chamber of Commerce and Industries, Kashmir, (CCIK) today termed the government claims of reducing the GST rates on handicraft items and bringing relief to small traders a “brazen attempt to pull a fast one and confuse the people of the state in general and the business community in particular”. This was stated by CCIK secretary general Mauzam Bakshi after a meeting of the chamber. “While analysing the press statement as well as the official notification, experts have found that no reduction in the tax rates of Kashmir handicrafts…

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J&K gets cold response at tourism awards

Editor

Notwithstanding the claims of the PDP-BJP coalition government that “Kashmir is the warmest place on the earth,” J&K has failed to win accolades at the National Tourism Awards, 2015-16 despite its scenic beauty and hospitality. The National Tourism Awards were presented by President Ram Nath Kovind to various segments of the travel, tourism and hospitality industry at a function organised by the Ministry of Tourism on the occasion of World Tourism Day in New Delhi today. Barring a joint award in the category of ‘Best Airport’ clinched by Srinagar International…

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Kashmir to celebrate its chief fruit with ‘Apple Year’

Editor

A series of promotional activities are scheduled over the next two years as the Jammu and Kashmir Government prepares for the launch of ‘Apple Year’, dedicated to the chief fruit of region. The Apple Year, which was announced by Chief Minister Mehbooba Mufti several months ago, will begin with the harvesting season later this week or next week. It is the first detailed initiative by the state government dedicated to the promotion of the fruit industry, which is the backbone of the region’s economy with an annual turnover of Rs…

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Tax reduction on Handicrafts, Walnut to benefit J&K traders: Haseeb Drabu

Editor

J&K Government’s proposal to slash taxes for protecting small traders of the state prevailed in the recent GST Council meet with the forum agreeing to reduction of tax on handicrafts and walnut. “Conceding the demand of the traders involved in the handicrafts sector of the state, J&K Government pleaded with the GST Council in its 21st meeting at Hyderabad recently to consider bringing down the tax rate on handicrafts and walnut from 12 percent to 5 percent,” an official spokesperson said in a written statement. According the spokesperson, Finance Minister…

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‘Warmest Place on Earth’ promotional film released by Mehbooba Mufti to promote Kashmir Tourism

Editor

To offset negative perception about Kashmir not being safe, Jammu and Kashmir Chief Minister Mehbooba Mufti on Saturday released a five-minute tourism promotional film ‘Warmest Place on Earth’ here at Tagore Hall highlighting the hospitable nature of Kashmiris. The film has been produced by tourism department for the promotion of tourism sector and to help portray the hospitable nature of the Kashmiris. Speaking on the occasion, Chief Minister said Kashmiris have always been hospitable and helped tourist all the time. Citing many examples of hospitable and caring nature of the…

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Post 2016 Unrest, Business slump continues in Kashmir

Editor

Prevailing uncertain situation coupled with cascading shift in economic policy – such as demonetization and implementation of GST – at the central government level has robbed Kashmir of yet another peak business season. While expressing concern over a continuing slump in business, Kashmir-based industry and trade leaders are now pinning all their hopes on a bumper apple harvest this year, which they believe will provide some succor to the state economy if the market for this cash crop remains good. Kashmir exports apples and other fruits worth Rs 5,000 crore…

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Consumers burdened with double taxation as Govt refuses to withdraw toll tax

Editor

The consumers are facing double taxation after the introduction of goods and services tax (GST) over two months back as the government has continued with the toll tax in the state. The toll tax remains even as GST was promised to bring in a single tax administration across India. The PDP-BJP government had agreed to impose GST promising that this will provide relief to consumers by making goods or new services cheaper. However consumers face dual tax. State’s Excise department has collected the toll tax levied on goods brought in…

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Rs 1100 cr loss in a year, Kashmir tourism continues to bleed

Editor

Hizbul Mujahideen commander Burhan Wani’s killing on July 8 last year and subsequent unrest have cost Kashmir’s hotel industry Rs 1,100 crore. Javid Amin, 40, looks pensive at his Spartan office in Srinagar. For the last one year, Javid, who owns JKL Travels / Kashmir Travels, has been struggling to pay wages and meet daily office expenses. In the last one year, the number of annual bookings fell to 30 from 300. Javid has suffered a loss of Rs 15 lakh this year alone. “We have become defaulters because we…

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