(MENAFN- KNN India) Massive unrest in the valley for the fifth consecutive day has hit the local businesses very hard leaving all the industrial units and retail outlets out of operation. After the auspicious month of Ramadan there were high hopes of the industry, SMEs and retailers making profitable returns but all these clashes and the subsequent violence instead of turning the tables made hopes unfeasible.
In a high level meeting chaired by the PM yesterday on the situation in Kashmir within hours of his return from the four-nation Africa tour, Modi appealed for 'calm and peace.”Separatists with all the emotions for the killing of militant commander Burhan Wani intended to observe 'Martyrs"; Day” on July 13 but these violent outbreaks in the region are also taking toll on the local shopkeepers, manufacturers, traders, exporters and SMEs in short.
All the restrictions and the curfew in the state and the prominent Lal Chowk area which is a local market hub have made the situation turn worse for the SMEs. With no business and industrial units operating currently in the region all the demand and supply chains has come to a standstill.
Talking to KNN about the repercussions of this cycle of violence on business in Srinagar and other local areas, Bashir Ahmed, President, Kashmir Traders and Manufacturers Federation, said, 'All the businesses are completely stagnant since last 5-6 days and we are all waiting desperately for the situation to normalize to an extent which allows us to again carry out the usual routine business and brings us back to work. This curfew shunned all the hopes of the business doing well after Eid-ul-Fitar.”
'Manufacturing business and industrial demand usually accelerates after Eid as Ramadan is a festive season with demands high prominently for eating and garment business and not the industrial output. Most SMEs had high hopes of the daily business accelerating after the busy month of Ramadan but nothing of that sort seems even near,” he added.
Ahmed, who is also the President of All Kashmir Gold Dealers and Workers Association, said, ”The daily wage earners are the most effected victims of such a turmoil in the valley as they in such a curfew have to sit jobless at homes with no income at all to support their families.”
Lalit Mahajan, Chairman of Bari Brahmana Industries Association (BBIA), Jammu, said, ”The central and state authorities who are already striving hard to try to normalize the situation as soon as possible.”
Unfortunately, the scattered rocks, broken glass and smoke billowing from burning tyres on the deserted roads in many parts of Kashmir due to the massive unrest in the valley is a real loss to the local business and the SME sector. (KNN/ GK)