Business activity in Srinagar’s Central Market Aabi Guzar and Lampered Lane near Regal Chowk has reached alarming lows, with shopkeepers reporting an almost complete absence of customers. Traders told Kashmir News Trust that sales have fallen to historic lows, putting long-established businesses on the brink of closure.

Muhammad Yaseen Khan, Chairman of the Kashmir Traders and Manufacturers Federation, described the situation as “critical,” noting that the slump, ongoing since the 2014 floods, has now pushed many traders to the edge. He said that the trading community recently met Chief Minister Omar Abdullah, who assured them that an expert committee—including trader representatives—would be constituted to draft a revival roadmap for the affected markets.

Khan added that although Lieutenant Governor Manoj Sinha had sanctioned ₹750 crore for the business community, most traders were forced to use the funds to clear accumulated bank interest. Similarly, compensation provided by insurance companies after the floods was largely diverted toward reconstruction, leaving little for reviving commercial operations.

“The revival of our markets depends heavily on the recovery of horticulture and tourism sectors,” Khan said, stressing that only a broader economic recovery can restore commercial activity in Srinagar’s downtown and Civil Lines areas.

With historic business hubs facing closure, traders are pinning their hopes on concrete government intervention and comprehensive revival strategies to prevent further economic decline.