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| CCI expresses concern over deteriorating state economy | | | EARLY TIMES REPORT
Jammu, Tawi, Sept 18: The Chamber of Commerce & Industry (CCI) President today expressed deep concern over the rapidly deteriorating economy of J&K state. The Economy of Sate is mainly dependent on Tourism, Trading and Industry which are badly affected due to prolonged unrest.
Around 60 percent of Tourism Sector comprises of religious pilgrims to various shrines including Shri Mata Vaishno Devi Ji, Baba Amarnath Ji.
Average of 80 lakh pilgrims visits holy Vaishno Devi Ji, seven lakh pilgrims visited the Baba Amarnath Ji and more than five lakh tourists visit valley, Ladakh and Leh. Due to the constant turmoil every year in the valley, the tourism sector gets badly affected.
The national calamity in Leh has also added to the plight of already deteriorating economy. The industry is mainly located in plains of Jammu region, being near to Punjab and connected with the Railways with the rest of the country. The 65 percent of locally made goods are supplied to Kashmir and Ladakh region. According to various reports in local newspapers, the industry has suffered losses to the tune of 1000 crores. According to the newspapers goods worth Rs. 3000 crores produced before the eruption of violence in the valley, are blocked. The production of most of the units has dropped by 75 percent due to drop in production the labourers employed in these units are at the verge of loosing source of livelihood.
Similarly, trade the vital source of economic churning is at crossroad The Trade is stand still due to the turmoil in the valley. The base of trading activity is focused in Jammu. All the depots of various companies and distribution hubs are located in the Jammu and from here the whole of state including Ladakh and Kashmir is fed.
The demand of various goods has badly affected as the markets are not functioning normally. As reported in various newspapers, about 5000 crores of loss has been reported in trade sector. Similarly, the other sectors like Hospitality, Transport are also in shambles. To overcome all the losses, the only thing which should be taken care of, is the healthy environment which has been under constant threat for reasons best explained in various contexts.
We request the visiting delegation of Parliamentarians to keep alive the Trade and Industry, the lifeline of any society. The Trade and Industry can not survive under the constant shadow of terrorism public unrest and callous attitude of the Government.
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