The Kashmir Chamber of Commerce and Industries (KCCI) has estimated the business losses at Rs 3900 crore in the last 39 days of closure in Indian Occupied Kashmir.
On average at least Rs 100-120 crores daily loses in Kashmir due to the lockdown. The tourism industry, which is worth of Rs 4000-5000 crores and handicrafts that yields Rs 1500-2000 crores annually, is the worst hit. it is not just this year but the aftershocks of this situation will be felt in the coming years as well, president of KCCI, Sheikh Ashiq Ahmad said in a media interview in Srinagar.
Communication links including mobile and internet services and TV channels are snapped in the entire Kashmir valley and have complicated the situation, which has determined the functioning of most businesses, particularly information technology, courier services, tourism and some of the traditional business in the valley.
Vacant houseboats and abandoned hotels present a gloomy picture of the tourism sector. Hundreds of young people have lost their jobs so far, as most hotels in the valley have closed their shutters in the absence of tourists.
The horticulture sector, the biggest economy, and the employment generating sector of Kashmir, too is in the red due to no phone connectivity in the region.
An official from the Transport Department said that at least 6,000 commercial vehicles had not plied on roads for the last 39 days.
Traditional handicrafts including pashmina and carpet are also witnessing slump with no fresh orders coming from outside dealers in view of the communication gag.
There are also reports of lay-offs in courier and other e-commerce companies in occupied Kashmir. “There are around 3,000 youth working as courier boys in the city alone. Most of them have lost their jobs.”
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