Category: Business

Business

Amid Startup India hype, startups in Kashmir await paradigm shift

Editor

Throwing the catchphrase ‘Startup India, Standup India’ , PM Narendra Modi announced a plethora of initiatives last week to boost entrepreneurship in the country that already ranks third in the global startup ecosystem, according to IT industry body Nasscom. Being labelled a head-start – a three-year tax holiday, business incubators, research parks, among other initiatives and Rs 10,000 cr start-up fund – have been promised by the PM to give wings to his ambitious project. Whether or not the budding startups would be able to ‘take the leap of faith’…

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Less snowfall hits winter sports in Gulmarg

Editor

The change in climate conditions that have resulted in less or no snowfall in Kashmir this winter season has hit winter sports activities at Gulmarg. Gulmarg, known all over World for its winter sports activities has not received favorable amount of snowfall this season. In plains, Gulmarg bowl, this winter season so far snowfall has been only around one-feet while as in upper reaches of Apharwat it has been around three-feet. Usually Gulmarg used to remain abuzz with sports activities at this time of the year with skiers from all…

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Amarnath yatra to begins from July 2

Editor

This year’s 48-day-long annual Amarnath pilgrimage will commence on July 2. The decision was taken today by the Shri Amarnathji Shrine Board at its 30th board meeting in New Delhi. The meeting was presided over by Governor NN Vohra, who is the chairman of the shrine board. The duration and date of commencement of this year’s pilgrimage was based on the recommendations of the Sri Sri Ravi Shankar Committee, which had been set up to advise the board on this key aspect. The date of the start of the yatra,…

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Poor Airtel service irks subscribers

Editor

The poor airtel data and cellular service in Mominabad, Batamaloo and several other areas in Srinagar has become a source of annoyance for the subscribers. The subscribers in MominabadBatamaloo said that despite their pleas, the company has been taking them for a ride. “It is useless to have the Airtel SIM here. For last over a month, the service is totally down. Neither we are able to make a call nor can get the Net service on Airtel SIM,” said a subscriber. Subscriber of 9797830197 said: “For every single call,…

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Kashmir faces recession as sales turnover declines

Editor

The Kashmir region is facing economic recession due to the drastic decline in the industrial and trade turnover. According to officials, as per the data received for preparation of quick estimates of gross domestic product (GDP) for 2014-15, there is a decline in comparison to the projected GDP growth. In the year 2013-14 state’s GDP at current prices was Rs 87319 crores. Also the industrial turnover has witnessed a near 30 percent decline while trade turnover has seen a drop of near 60 percent. The industrial production has come down…

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Petrol, diesel prices cut

Editor

Petrol price was today cut by 32 paise and diesel by 85 paise a litre, the fourth reduction in rates in six weeks on the back of softening global oil prices. Petrol in Delhi will cost Rs 59.03 per litre with effect from midnight tonight as against Rs 59.35 per litre currently. A litre of diesel will cost Rs 44.18 as opposed to Rs 45.03 presently, said Indian Oil Corp (IOC), the nation’s biggest fuel retailer. This the fourth reduction in rates since December 1. Rates were on that day…

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Kashmir tops domestic destinations list; luxury travel rising among Indians: Yatra

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Luxury travel is on the rise among Indians, travel portal Yatra.com said on Monday. According to Yatra.com’s winter survey, the propensity of Indians to spend on travel has increased and more than 30 percent respondents were ready to spend above Rs.50,000. “We have seen a number of takers opting for not only domestic but also international destinations for their winter vacations. Indians are holidaying more frequently and that’s a trend that has been on an increase over the past few years,” Yatra.com president Sharat Dhall said in a statement. Nearly…

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Zojila, Z-Morh tunnels will boost adventure tourism: ATOAK

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Kashmir-based Adventure Tour Operators Association or ATOAK has welcomed the union government decision to speed up the process for constructing Zojila tunnel on Srinagar-Kargil-Leh highway. President ATOAK Rauf Tramboo said the project is already too late. “The tunnel should have been there in mid 80s or even much earlier when adventure tourism started booming in the world and was all time high in Kashmir.” “Sind Valley including Sonamarg is a prime attraction for round the year adventure related activities but due to non availability of road connectivity in winters this…

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Traditional copper utensils moving out of Kashmiri kitchen

Editor

The use of exquisite and traditional copper utensils, which have been part of Kashmir’s culture for a long time, is declining as it faces challenge from cheaper ceramic and modern cookware. The artisans linked to the trade said the use of plain copper utensils had become obsolete and the sale recorded a considerable drop over the years. “Since past few decades we are observing a decline in the sale of copperware, but the reduction has not been more than 15 per cent,” said Sheikh Muzaffer, a city-based trader, who has…

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30% Drop in demand of Kashmiri Apples

Editor

The fruit growers and traders in Kashmir are presently a worried lot: Reason, there is almost 30 per cent drop in demand for Kashmiri apples in the Delhi market as compared to last season. The stakeholders believe the drop in the demand is a result of the “overall economic downturn” coupled with some local factors. “The quality of the fruit is not that good this year mainly because of the inclement weather and use of substandard pesticides and fungicides,” they said. Speaking to us, Bashir and Baseer, President, Kashmir Valley…

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