Category: Business

Business

IRCTC to introduce glass ceiling coaches in Kashmir and Araku valley

Editor

India has always been an incredible place to tour and its picturesque landscapes are breathtaking for any traveller. In line with the Modi government’s bid to promote tourism in the country, Indian Railways’ IRCTC is taking a leaf out of Switzerland’s books. You can soon travel by train through the Kashmir and Araku valleys, enjoying nature’s beauty through glass ceilings and panoramic windows! Yes, in the coming months, Suresh Prabhu-led Indian Railways is all set to take luxury travel to a new height, by introducing glass-ceiling luxury coaches in trains.…

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Indian companies suffer losses in Billions due to Kashmir Unrest

Editor

National and multi-national companies operating across India have been incurring losses in billions due to prevailing Kashmir unrest. Despite being a consuming state, there is meager influx of commodities from different Indian states to Kashmir Valley. Senior Vice Chairman Kashmir Economic Forum and renowned industrialist Jan Muhammad Koul told news agency CNS that if current situation will prevail for many more days in Kashmir the State Government too will incur a loss of Rs ten thousand crores that it earns from traders in the form of Value Added Tax (VAT).…

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JK Bank mulls `Islamic Banking’ due to high demand

Editor

Newly-appointed Jammu and Kashmir bank chairman Parvez Ahmad on Monday said that the state government-controlled lender was ready to offer Islamic banking, if the Reserve Bank of India approved the move. Ahmad told a press conference that there was a strong demand for such banking service in Kashmir but RBI would need to examine the proposal. “We have not given a serious thought to it, but there is a lot of demand for Islamic banking in the state. We will examine the proposal and we have to also take RBI…

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Losses to Kashmir’s economy piling up due to unrest

Editor

Business sector pegs loss at Rs 11,000 cr, with single day shutdown cost coming to Rs125 cr There seems to be no end in sight to the losses being suffered by Kashmir’s economy ever since Hizbul Mujahideen commander Burhan Wani’s killing on July 8 sparked widespread protests. The unrest has hit hard all business sectors, especially shopkeepers, tourism stakeholders and transporters. Other sectors like horticulture too are facing the heat due to continued shutdown calls coupled with curfew and restrictions. According to the Kashmir Chamber of Commerce and Industry (KCCI),…

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Traders express faith in joint resistance leadership

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‘Shutdown in Chenab, Ladakh biggest achievement of 2016 agitation’ Kashmiri traders Sunday said spreading of ongoing protests to Chenab valley and Ladakh is one of the biggest achievements of 2016 agitation. They said that fiscal losses are revocable but not the precious lives lost in forces’ action. “Now the pro-Kashmir protests have reached out of Kashmir. People in Chenab valley, Pir Panchal and Ladakh have observed shutdown to express solidarity with the people of Kashmir. They have also raised their voice for right to self determination. This is one of…

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Apples reaching India with Slogans ‘ Go India ………. ‘

Editor

‘An attempt to defame Kashmir horticulture sector’ Valley-based fruit growers today termed as “grave conspiracy” the reported branding of some “apples” found in a Haryana market, with anti-India slogans. As per reports carried by various news agencies, a resident in Haryana today purchased apples which were branded with anti-India slogans. The incident stirred controversy. Reportedly, the incident came to light at the Sirsa vegetable market in Haryana when two boxes of “Kashmiri apples” were opened and two apples in them were found with anti-India slogans written over them. ‘We want…

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Floriculture sector to get Dutch push

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Farooq Ahmad Shah, Secretary for Tourism and Floriculture, met Houter Vealey, agriculture counsellor of the Netherlands for India and Sri Lanka, at the Dutch embassy in New Delhi today. “The officials held threadbare discussions to explore commercial floriculture development avenues in Jammu and Kashmir, particularly the Valley,” said an official statement issued here. “The counsellor was convinced that Kashmir had tremendous potential to become the hub for commercial production of cut flowers which are of the best quality and fragrance,” it said. “Vealey emphasised the production of tulip, lilium, lilly,…

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‘Scooty Boom’ amid Unrest

Editor

Sales of gearless two-wheelers have increased many times in past 2 months For past near about three months which were marked by shutdowns and government restriction with no public transport and almost invisible private transport, it is the ‘scooty’ which is riding on Kashmir roads these days. The gearless two-wheeler or scooters, commonly here know as a ‘scooty’, as brand named by the company which first introduced it in Indian market, has become the most viable option of transport during the prevailing transport. The gearless scooter which was first considered…

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Pvt sector takes hit during unrest, 11 lakh affected

Editor

Private companies in the Valley, which are lying shut since the unrest started in July 8 following the killing of militant commander Burhan Wani, have not paid salary to their employees, creating a distressing situation for them. “We were paid salary for the days we reported for work but are now sitting at home without any source of income. This is a distressing situation for us,” said Nazim Ahmad, a private sector employee. Chairman of the Kashmir Economic Alliance Yasin Khan said around 11 lakh people engaged in the private…

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Flourishing produce of vegetables from Dal Lake during Unrest

Editor

Like many other city pavements, the Saida Kadal – Nigeen stretch has become a hub of local vegetable vendor’s selling farm fresh vegetables at prices much lower than that of market cost. Drivers, shopkeepers and even daily wage workers have turned into vegetable vendors to sell produce from the nearby Dal lake. Squatting at his stall at Rangar Stop Saida Kadal, Showkat Ahmad Dar’s life has witnessed a transition from being a bus driver to a vegetable vendor. “For last two and half months, I have been selling vegetables produced…

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