Category: Business

Business

Jewellers’ strike enters 2nd day

Editor

Jewellers across the city continued to down their shutters for the second consecutive day today as a part of three-day pan-India strike to protest the proposed re-imposition of 1 per cent excise duty on gold and diamond jewellery and mandatory quoting of Permanent Account Number (PAN) by consumers for transaction of Rs 2 lakh and above. Jewellers consisting of manufacturers, retailers, artisans, among others, participated in the strike called by the All India Gems and Jewellery Trade Federation.

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Government orders rebidding for Zojila tunnel contract

Editor

The Union Government has ordered rebidding of the strategic Rs 10050-crore Zujila tunnel contract in Jammu and Kashmir, which was earlier given to IRB Infrastructure, reports said on Wednesday. The decision to rebid the tunnel project was taken at a meeting, presided by Road Transport and Highways Minister Nitin Gadkari. As some doubts were raised in respect of the project, rebidding was ordered to maintain complete transparency and uphold probity in public life. Zoji La is 9 km from Sonamarg and provides a vital link between Ladakh and Kashmir. It…

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Tulip Garden may reopen by middle of March; early spring

Editor

With Kashmir valley witnessing an early spring and above normal day temperature, the Tulip Garden, which has become a major tourist attraction, is likely to reopen ahead of schedule this year. Spread over 30 hectares of land, displaying around a million colourful flowers at the foothills of the Zabarwan range, the Tulip Garden usually opens in March end. Last year, the garden’s reopening was delayed to April 6 due to incessant rains. Nazir Ahmad Reshi, in charge of the Tulip Garden, said the garden would be thrown open in mid-March,…

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Official apathy pushes historic silk factory at ram bagh into ruins

Editor

‘Govt Has No Plans To Revive It’ Once one of the largest producers of silk in the world, the famous Silk Factory at Ram Bagh here is in ruins due to failure of successive regimes to ensure its functioning. In absence of any maintenance, the mega British architecture buildings housing cocoon reeling and silk processing units are dilapidated. Some of the historic buildings of the factory have been converted into offices of various departments. The transformer repairing workshop set up near historic building points out towards non-seriousness of the authorities…

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Budget turned damper for traders, tourism players

Editor

The Union Budget has failed to cheer up Jammu and Kashmir traders and stakeholders of the tourism sector. While the Valley was hoping to hear the announcement of a flood rehabilitation package, others say the state has been ignored by the Narendra Modi-led government. “Modi had said this Budget was his exam. However, he has failed the Kashmir exam. Even though we do not have any hope from New Delhi, the flood-affected businessmen and people continue to face neglect from the Centre,” said Siraj Ahmad, chairman, Association of Hotel &…

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Jammu retail traders face online shopping heat

Editor

A slump in the market, coupled with a huge boom in online shopping, has brought the traders and business community of the winter capital on the edge, as losses of retail business outlets mount. Disturbed over the losses, traders and businessmen have requested the government to keep a check and impose taxes on online shopping products to keep the market stable. The deserted markets and idle shopkeepers in Jammu were already presenting signs of how global recession was resulting in losses. The traders have been forced to sell their winter…

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J&K emerging prime destination for MICE, golf tourism

Editor

Jammu and Kashmir is emerging as a high-end tourism destination amidst retaining its popularity among mid-budget segment travellers, a senior state official has said. “Jammu and Kashmir is ready and has the right infrastructure in place to cater to tourists in areas like MICE (Meeting, Incentive Travels, Conferences, Events) and golf tourism among others,” R K Verma, Director Tourism, Jammu and Kashmir, told representatives during the ongoing International Tourism Mart (ITM) in Goa. He said, “MICE and Golf Tourism are emerging high-end tourism products and Jammu and Kashmir has all…

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JK hopes Budget will help boost economy

Editor

As the BJP-led government at the Centre will present its third Budget tomorrow, the business community in the state is waiting for some state specific announcements which will help revamp the economy of Jammu and Kashmir post the floods in September 2014. Already miffed over the Centre’s ‘failure’ to rehabilitate the flood victims and the delay in extending the Central package for industries by the successive governments, the Jammu region and the Kashmir valley are hoping that Union Finance Minister Arun Jaitley will bring cheer to the people in J&K,…

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Advance registration starts today for Amarnath Yatra 2016

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Shrine board asks pilgrims to follow do’s and don’ts The advance registration of pilgrims for Amarnath yatra will commence tomorrow all over the country for both the Baltal and Chandanwari routes through 432 designated bank branches of Punjab National Bank, J&K Bank and Yes Bank. This year’s 48-day yatra will commence simultaneously on both routes from July 2 and culminate on Raksha Bandhan, August 18. In an official statement, PK Tripathi, Chief Executive Officer, Shri Amarnath Shrine Board (SASB), said the step-by-step procedure which the pilgrims needed to follow to…

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Federation of Industries Jammu & Kashmir meets Governor

Editor

A joint delegation of Federation of Industries, Jammu (FOIJ) and Federation Chamber of Industries Kashmir (FCIK), met Governor N.N Vohra, at the Civil Secretariat here today. The delegation discussed with the Governor various issues regarding the development of the industrial sector in the State. The matters raised included the need of taking various measures for promoting fresh investment in the State, including the extension of Central Excise Duty and Income Tax Holidays, presently available to the industrial units till 2017. The delegation requested the Governor for early implementation of the…

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