A fragile peace~I

Nearly 50 per cent of J&K's population is directly or indirectly involved in tourism-related activities. In addition to agriculture, tourism is the most important sector for income generation and job creation. According to reports by recent visitors to Kashmir signs of economic recovery are visible, not only in Srinagar but also in other parts of the Valley

- ARUN KUMAR BANERJI

Four years after the abrogation of Article 370, are winds of change blowing through the Valley, auguring a new era of peace? Recent developments, particularly since the holding of the G-20 Tourism Ministers’ meeting in Srinagar in May 2023, seem to indicate the beginning of a new era of peace. One of the aims of the Government of India in holding the meeting in Kashmir was certainly to highlight that normalcy was returning to the Valley.

There has been a remarkable revival of the tourism industry in Kashmir with more than 18 million tourists visiting Jammu and Kashmir in 2022, compared to almost 13 million (including the tourists visiting Ladakh) in 2012. Spurt in tourism has brought in its wake rejuvenation of Jammu and Kashmir’s economy, as income from tourism constituted nearly 15 per cent of the State’s GDP (SGDP) before it was split into two Union Territories (UTs) ~ Jammu and Kashmir and Ladakh. Nearly 50 per cent of J&K’s population is directly or indirectly involved in tourism-related activities.

In addition to agriculture, tourism is the most important sector for income generation and job creation. According to reports by recent visitors to Kashmir signs of economic recovery are visible, not only in Srinagar but also in other parts of the Valley, with the opening of malls in different cities, shops remaining open even after the sun sets, restaurants and hotels doing brisk business, and tourists thronging the Dal Lake area for shikara rides, and visiting picturesque spots away from Srinagar, Sonmarg and Gulmarg. According to the National Sample Survey Report, the unemployment rate dipped to 6.8 per cent in January-March 2023, compared to 8.2 per cent a year ago, while the overall economy, which is heavily agrarian, grew by 8 per cent during 2023.