Business and Economy of SrinagarSrinagar has already been considered as the “paradise on the earth” because of its scenic beauty. The city is also got important place in the economic map of the county. Though tourism is the base of economy of Srinagar but other businesses which have been developed due to tourism i.e. hotel business, handicraft business, cyber cafes etc. are also on the rise. With more and more people looking for commercial and residential places in Srinagar, construction business is also on the rise in the city. Read this article to know more about business and economy of Srinagar.
Tourism Business in SrinagarThe main foundation of Srinagar Business and Economy is the tourism business. Tourists from all over the world flock here throughout the year. Hotels of all types including the luxury and budget hotels of Srinagar survive because of the tourists visiting the city and its adjoining places. The restaurants, bakeries, handloom and handicraft shops, coffee shops, cyber cafes also depend largely on the tourism business. Government is providing special subsidy to the people who are setting up business units related to tourism.
Dairy and Poultry Business in SrinagarDairy business is very profitable in Sriangar. Milk procured from neighbouring villages and also from some parts of Punjab gets processed in these dairy farms and supplied to retailers, wholesalers, hotels and restaurants. Zum Zum Dairy is one such company that process about 17,000 liters of milk every day in its milk processing plant.
Rearing of poultry birds and supplying meat and eggs to different retailers and wholesalers is also a very profitable business in Srinagar especially during the tourist seasons.
Cement Business in SrinagarAs surrounding areas of Srinagar has got plenty amount of minerals like limestone, gypsum, coal so cement production and supply business is doing well in Srinagar. Since 1962, Wuyan is a cement factory that has been producing and supplying cement to various parts of the state. Another factory, J & K Cements Limited, has been established at Khrew in 1982.
Silk Business in SriangarThe climate of Kashmir Valley and availability of workers in Srinagar and around are the important reasons for sericulture. Huge amount of raw silk gets produced and silk items like dress materials, jackets, scarves, sarees, dupattas, rugs etc. are made and sold in the market.
Many villages and houses in and around Srinagar City rear silk worms and are involved in sericulture thereby earning their livelihood and helping in the economy of the city and the state.
Leather Business in SrinagarSrinagar shops sell different types of leather goods and they are in great demands among the tourists. Watals of nearby villages of Srinagar prepare hides and then sell them in Srinagar market to get them processes. Saddles, jackets, gloves, caps, bags, purses, belts, files, book cover and many other items made from this leather are sold in the market. Good quality leather makes these items last for long. Leather is also supplied to leather factories of Kanpur, Agra, Delhi and Chennai. More profits in this business are drawing younger generations into this business.
Paper Mache Business in SrinagarSrinagar shops adorn themselves with varieties of paper Mache products. Paper Mache Art is unique to this region. Intricate designs are made on the smooth paper prepared by pulps of paper and different items like trays, cabinets, tables, pen-boxes, vases etc. are made of Paper Mache. These items are exported to many other cities of India and also to various other parts of the world. Srinagar and its adjoining areas are famous for its Paper Mache industry.
Wood Item Business in SrinagarAvailability of wide forest
areas and abundant Walnut, Willow and Mulberry trees in these forest
shave boosted up the business of wood items in Srinagar. Manufacturing
and supplying of willow cricket bats is one-of-its-kinds business of
Wooden furniture and artifacts like show-pieces, utensils, boxes and other sports goods are very promising businesses of Srinagar.
Agro Product Business in SrinagarAgro based products are one of the most important pillars of the economy of Srinagar. Paddy, Maize and Wheat being the major crops of this area, flour mills, oil extraction mills, rice-husking mills are situated in and around Srinagar and bring in good amount of profit. Bazra, Jowar and Barley are also produced in some parts of this region thereby adding boost to the agro-based products businesses. Stretches of fruit orchards have boosted the dried fruit business and businesses of making fruit based products like fruit juice, fruit squash, jam, jelly etc. These fresh products are in great demand among the tourists also.
Handloom Business in SrinagarHandloom items like embroidered dress materials, sarees, dupattas, rugs, carpets are bringing in good amount of revenue for the business owners of Srinagar. Most of the factories are in and around Srinagar City. Kashmiri Carpets are known for their unique materials and natural motifs. Carpet Factory, East-India Carpet Factory, C.A.E Carpet Factory, the Oriental Carpet Factory etc. are some of the major manufactures of carpets in Srinagar. Woolen items are also produced in Srinagar and sold in the markets all over the world. Kashmiri Shawls especially the Pashmina Shawls have got national and international fame. Srinagar houses wool textile factories at Naushahra, Bemina and Karan Nagar.
Economy of SrinagarSrinagar economy is mainly dependent on tourism and agriculture. With improvement in the political situation and improvement in law & order of Srinagar and its surrounding areas, tourism business is accelerating. The agro-based industry and sericulture have opened up new avenues of growth. The export business is gearing up and many small scale business owners are investing money for exporting products like apples, peaches, corn, millets, barley and cherries.
Saffron from Kashmir has demand all over the world. Tough terrain and power shortage are two major hindrances for many industries of Srinagar so government is taking special care about these problems. Government is giving special attention for providing right infrastructure for various businesses so that Srinagar has consistent economic growth.
Apart from the above explained businesses, lac-based item production business , electrical goods business, construction business, tiles manufacturing business etc are also increasing their numbers very fast in Srinagar.