The valley is embracing the opportunities in tourism, agriculture and technology and witnessing a shift towards economic stability, driven by policy reforms and infrastructure development.
Kashmir has always been a central landscape of natural beauty, and culturally a rich land. However, for decades, it also suffered from economic stagnation and political instability that was not friendly to any development. In the recent decade, the economy of this region has experienced quite a miraculous change. It has become the time when several sectors have been revived, and increased emergence of women entrepreneurs and heightened tourism activities are witnessed. All these have had significant impacts on Kashmir’s economic revival and have made its due contribution to the GDP of the entire Indian nation. The tourism industry in Kashmir suffered setbacks because of political disturbances and security problems over the decades and now a resilient boost can be seen as a new phase in the recent decade in the region that started to develop and tourism grew faster.
The major influence on tourism over the last ten years has been the restoration of order and security which enhances confidence among the tourists. Ordinary citizens of Jammu and Kashmir and the government collectively, and with their support stakeholders involved in tourism enhancement traveled little more than head and shoulders improving roads, air facilities, and development of new circuits for tourists. Measures like the “Visit Bharat” marketing and promotion of off-beat destinations were sure to attract diverse tourist profiles ranging from adventure tourists to religious pilgrims.
Regional domestic tourism reached a boom, with Kashmir holding a place amongst the first few destinations within India for recreational sightseeing as well as adventurous tours. This upturn meant more visitors landing in Kashmir creating jobs and also pulling other sectors of the economy such as hotels, business, and transport. In that respect, eco-tourism and rural tourism have developed as one of the commercial resources for the region. Friendly accommodation, meals in private households, and ecotourism with local acquisition of food products have shown themselves as successful in giving the tourists money directly back to the villages.
There is also the Women Empowerment & Entrepreneurial Growth (WEEG).
In the last decade, one of the most noteworthy changes in the economic landscape of Kashmir has been the increase in women becoming business owners. Socio-culturally and economically, the role of women of Kashmir remained confined to residences, and most of the time, they remained confined to their homes only. However, new initiatives of enterprises run by women is evidenced and has brought an economic revolution apart from empowering women and contributing to bolstering the economy. Many government policies and other Non-Governmental Organizations (NGO’s) helped in bringing women into the business world. The CSR, Corporate Social Responsibility activities such as “Startup India” and “Stand Up India” schemes helped women build up their financial self-sufficiency and received training. Women in local organizations and cooperatives were supported toward skill development and in setting up networks that will assist gain access to the market to buy their products. Womenfolk of Kashmir also started to venture into different sectors and it is evidenced that today more and more women entrepreneurs are embracing the business sectors including handicrafts, handloom, food processing industries, tourism, and IT. For instance, in the case of the Kashmiri shawl industry which has mostly employed men from the very beginning, many more women began to engage in weaving and designing. Likewise, women in the tourism segment have brought specialized services to the market including; tourist guiding services, local artisan shops, and authentic food services. The young generation of women has also diversified its sectors of working by progressively becoming a part of IT industries too as several female-led start-ups have originated in the areas of software development, online teaching, and e-business. These business initiatives were not only opening up new employment avenues in the valley but were also adding to the Indian Central Gross Domestic Product as the valley’s economy became an interlink of the national as well as international chain.
Agriculture has always been an integral part of Kashmir’s economy as saffron, fruit (like apples), rice and many dry fruits are the major produced crops in this region. The changing realities of the last decade have brought dramatic changes in agricultural and horticultural practices resulting in life improvements due to new technologies, better market accesses, etc. That is why people have brought into practice modern farming practices, modern ways of irrigation, and high-yielding varieties of seeds. For example, Kahwa from Kashmir – which had mediocre quality or even saw a reduced yield, has seen a marked change in its quality and production due to new ways of farming and government intervention in quality certification and marketing of the produce. This has had a great impact on enhancing both employment and income in Kashmir as well as the general GDP. Also, new food processing units have come up and the value addition process has improved the income of farmers from the Kashmir valley. Kashmiri dried fruits, jams, and juices which are now value-added have a new market in India, as well as other parts of the world that benefited the economy of the region.
Speaking of Infrastructure development investments in the last decade, it's on the rise to rebuild and modernize the region of Kashmir. This has been through the construction of major infrastructure such as highways, tunnels, and extension of the railways which has opened up access to the region for business as well as tourists. For example, the construction of the Zojila Tunnel will ensure all seasons of connectivity between Srinagar and Leh that are practically cut off due to harsh winter. The existing expansion project and the better connection of roads have made Kashmir more enabling for trading and business.
It also witnessed the development and encouragement of SMEs for which investment has been made both local and from national level. The government initiatives in the direction of making Kashmir more friendly for investment are showing good results now as there are more numbers of business houses coming, which in turn helps in the generation of employment and economic growth.
The economic transformation in Kashmir over the past decade has been nothing short of remarkable. The region has witnessed a resurgence in tourism, an entrepreneurial revolution, particularly among women, and significant improvements in agriculture and infrastructure. These developments have not only benefitted the local population but have also contributed meaningfully to India’s national GDP. With continued investment in infrastructure, innovation, and inclusive growth, Kashmir’s economic future looks promising, and it stands assured to become a key player in India’s economic landscape in the years to come.

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