BILAL HUSSAIN
Srinagar: While terming the Assocham estimates about loss in J&K on account of 'adverse impact on the economic activity over past some weeks' as 'conservative', the traders organizations in Kashmir say the actual loss Kashmir alone faced is over Rs 2500 crore. The Associated Chambers of Commerce and Industry of India (Assocham) had said that the adverse impact on the economic activity in J&K over past some weeks had cost a whopping Rs 1,500 crore to the state industry. The worst hit areas identified by the highest body of the Chambers of Commerce of India included tourism, handicrafts and fruits. The apex industrial chamber in the Valley, the Federation Chamber of Industries Kashmir (FCIK), however, while terming the Assocham figures conservative maintained that the cumulative losses to various sectors in Kashmir were over Rs 2500 crore. President, FCIK, Shakeel Qalander told Greater Kashmir that the fruit industry had suffered a loss of over Rs 400 crore. According to him the production of fruit in this season was over 20 per cent of the annual total produce in the Valley. "The handicraft industry including carpets would have suffered a loss of over Rs 300 crore," he said. "In the months of August and September we have peak time for the fruit industry," former President Kashmir Fruit Growers Association, Imtiyaz Ahmad said, adding that the entire August has been disturbed by the economic blockade imposed by fanatic parties in Jammu. Experts said the tourism which was witnessing boom in Kashmir was shattered by the economic blockade. Director, Shiraz Travels, Nazir A Bakshi said: "In the first half of this year we had around 4 lakh tourists in the Valley. However, following the recent disturbances the entire tourism boom had died down." Bakshi pegged the losses to tourism industry in Kashmir somewhere between Rs 600 cr to Rs 700 cr in the two month of unrest. The losses in the agriculture sector would be around Rs 100 crore, an agri-economist said. Likewise the losses to service sector excluding the tourism industry would be over Rs 100 crores, said a software engineer Audil Hussain. Assocham has said the exports (from J&K) had fallen by at least 30 percent due to the agitation, which had brought the movement of goods, particularly fruits, to a halt. "If the agitation goes on, the economy of the state will suffer major jolt as people who had lined up over Rs 5000 crore worth of investment for fiscal 2008-09 will depart to the neighboring states of Punjab, Haryana and Himachal Pradesh", the chamber said.
Srinagar: While terming the Assocham estimates about loss in J&K on account of 'adverse impact on the economic activity over past some weeks' as 'conservative', the traders organizations in Kashmir say the actual loss Kashmir alone faced is over Rs 2500 crore. The Associated Chambers of Commerce and Industry of India (Assocham) had said that the adverse impact on the economic activity in J&K over past some weeks had cost a whopping Rs 1,500 crore to the state industry. The worst hit areas identified by the highest body of the Chambers of Commerce of India included tourism, handicrafts and fruits. The apex industrial chamber in the Valley, the Federation Chamber of Industries Kashmir (FCIK), however, while terming the Assocham figures conservative maintained that the cumulative losses to various sectors in Kashmir were over Rs 2500 crore. President, FCIK, Shakeel Qalander told Greater Kashmir that the fruit industry had suffered a loss of over Rs 400 crore. According to him the production of fruit in this season was over 20 per cent of the annual total produce in the Valley. "The handicraft industry including carpets would have suffered a loss of over Rs 300 crore," he said. "In the months of August and September we have peak time for the fruit industry," former President Kashmir Fruit Growers Association, Imtiyaz Ahmad said, adding that the entire August has been disturbed by the economic blockade imposed by fanatic parties in Jammu. Experts said the tourism which was witnessing boom in Kashmir was shattered by the economic blockade. Director, Shiraz Travels, Nazir A Bakshi said: "In the first half of this year we had around 4 lakh tourists in the Valley. However, following the recent disturbances the entire tourism boom had died down." Bakshi pegged the losses to tourism industry in Kashmir somewhere between Rs 600 cr to Rs 700 cr in the two month of unrest. The losses in the agriculture sector would be around Rs 100 crore, an agri-economist said. Likewise the losses to service sector excluding the tourism industry would be over Rs 100 crores, said a software engineer Audil Hussain. Assocham has said the exports (from J&K) had fallen by at least 30 percent due to the agitation, which had brought the movement of goods, particularly fruits, to a halt. "If the agitation goes on, the economy of the state will suffer major jolt as people who had lined up over Rs 5000 crore worth of investment for fiscal 2008-09 will depart to the neighboring states of Punjab, Haryana and Himachal Pradesh", the chamber said.
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