Category: Business

Business

Valley traders reject PM Modi’s package

Editor

Say first rehabilitate flood-affected businessmen The Kashmir Chamber of Commerce and Industry (KCCI) today ‘rejected’ the Rs 80,000 crore package announced by Prime Minister Narendra Modi on Saturday. The Valley businessmen said the Centre should first rehabilitate flood-hit businessmen and that five-year plans would not provide immediate relief to them. “We have rejected the package…. Instead of an immediate relief package, the Prime Minister has made allocation of funds to the tune of Rs 80,000 crore to be spent over a period of five years. The Rs 44,000 crore financial…

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Package fails to cheer tourism stakeholders

Editor

Prime Minister Narendra Modi’s announcement of Rs 2,241-crore package for the tourism sector has failed to enthuse stakeholders in the Kashmir valley. They said the announcement made by Modi yesterday dealt with the long-term development of the tourism sector, but the present issues facing the industry were not addressed. “The package mainly deals with long-term projects. There was no mention of any short-term or immediate compensation for the flood-hit tourism sector,” said Nasir Shah, coordinator, Tours and Travel Bodies and former chairman of the J&K Tourism Alliance. Shah said the…

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Kashmir Inc little excited over PM’s visit

Editor

As Prime Minister Narendra Modi is visiting Srinagar on Saturday, the Kashmir business community is “little excited” as according to them the PM has “failed to keep his promise with the flood victims in the Valley.” Talking to us, President, Kashmir Chamber of Commerce and Industry, Mushtaq Ahmad Wani said they had little hope about any rehabilitation package to be announced by the PM “as Kashmiris are now fed up with such promises.” “Our message is clear to the Government. In the first instance the flood victims should be rehabilitated,”…

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Mufti promises hassle-free business environment for filmmakers in Valley

Editor

Chief Minister Mufti Mohammad Sayeed on Thursday interacted with a group of 12 postgraduate students from the Media Education Research Centre (MERC) of the University of Kashmir, who have been invited to Mumbai for the 17th MAMI Film Festival. The Chief Minister met the students before addressing the glitterati of the Mumbai film industry during the concluding function of 17th MAMI (Mumbai Academy of Moving Images) Film Festival in Mumbai last evening. In his address, Mufti promised a hassle-free business environment to woo filmmakers for shooting their films in the…

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Anil Ambani to set up call centre in JK

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Anil Ambani has agreed to set up a 1,000-seater call centre in Jammu and Kashmir in two phases which will provide job opportunities to nearly 3,000 youth. Ambani gave this assurance to Chief Minister Mufti Mohammad Sayeed, who met various business tycoons in Mumbai and discussed prospects to give an impetus to investment in industry, telecommunication, power and tourism sectors in Jammu and Kashmir. An official spokesman said Mufti, in his meeting with Ambani, sought cooperation for investment in the information technology sector to create employment opportunities for the youth…

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Take strong position for Kashmir’s economy – KEA to CM

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PM’s Srinagar Visit As the Prime Minister Narendra Modi is visiting Kashmir on November 7, Kashmir Economic Alliance has asked Chief Minister Mufti Mohammad Sayeed to extract tangible economic benefits from PM’s visit. KEA Chairman Showkat Mohammad Chowdhary said PM had visited Kashmir last time and returned back only to disappoint Kashmiris. “But now much hype has been given to massive economic package that Prime Minister is going to announce in Srinagar. We hope his announcements would not disappoint Kashmiris. Mufti Sahab should also take strong position for Kashmiris who…

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Kashmir bat industry in slump: Low demand hits stakeholders

Editor

The cricket bat manufacturers in this town are a worrying lot. Reason: The demand for their product, according to the manufacturers has sharply declined. The manufacturers said they were facing a host of problems due mainly to government “indifference” towards this huge industry. “And now the sharp decline in the demand has worried us,” they added. The bat makers said they were awaiting industrial cluster announced by the government sometime back that they expected would help them work in an organized manner and make some good earnings. “But this has…

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Kashmir’s saffron growers in the red

Editor

Centre’s ambitious renewal mission, fails to click due to actions of land and soil excavation mafia. Despite the setting chill, south Kashmir’s Pampore fields, situated on rare soil dunes, wear a festive look these days with young and old, irrespective of their professions and gender, singing and plucking the famed and prized saffron crop from a carpet of purple flowers. However, the disappointment on farmers’ faces is visible as the Centre’s Rs. 413-crore Prime Minister’s National Saffron Renewal Mission has failed in its objective. Besides, the politician-backed land and soil…

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Srinagar woman runs the only bat unit in city

Editor

Close to the Alam Sahib’s shrine in Narwara, Rifat Jan lives like any other Kashmiri woman. However there is one aspect which makes her special. Rifat runs the only bat manufacturing unit in the city by the name of Masoodi Arts and Sports.  “I couldn’t have done this without my husband. He gave me all the support I needed,’’ said a beaming  Rifat. “ At first I was reluctant to start the unit as my husband cannot run it for being a government employee,  but I made up my mind…

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Pahalgam, Patnitop to be Smart Tourist Destinations: Mufti

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With an objective to give travel industry a complete image makeover, Chief Minister, Mufti Mohammad Sayeed, Friday emphasized upon exploring how smartness can improve competitiveness in the context of state’s tourism destinations. To begin with, he desired that Tourism Department conceive a plan for ‘Smart Tourist Destination’ for Pahalgam and Patnitop resorts. “Small is beautiful. Time has come for our tourist destinations to offer smart solutions in leisure, transport, hospitality and businesses for comfort of our visitors,” he stated. The Chief Minister made these observations while interacting with business heads…

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