Business Bullish: Kashmir Inc bets big on new Government

Srinagar, Oct 8: The business community of Kashmir have extended their congratulations to the NC-Congress Alliance following their decisive electoral victory in the Assembly Election. Various business organisations have expressed optimism about the new government’s potential impact on the region’s economic landscape, particularly during these challenging times for the business sector.

Javed Tenga, President, Kashmir Chamber of Commerce and Industries, welcomed the democratic mandate, stating, “Democratic setup is always admired, and we express our best wishes to the new government who has a huge task in hand to uplift the economy of Jammu and Kashmir.”

Addressing the immediate concerns of the business community, Tenga added, “I am hopeful that the issues faced by the business community will be given priority and local trade and commerce will be promoted in a big way.”

Mushtaq Chaya, Chairman, Jammu and Kashmir Hoteliers Club, extended a warm welcome to the new government, expressing confidence in its ability to address the hospitality sector’s concerns and contribute to the region’s economic revival.

“As the hospitality sector’s representative, I extend my warmest congratulations to the new government. This electoral mandate comes at a crucial juncture for Kashmir’s tourism industry,” said Chaya.

“The hospitality sector has weathered numerous challenges in recent years, and we see this political transition as a beacon of hope for our industry. The formation of a stable government is particularly significant for the tourism ecosystem, which requires consistent policy support and strategic vision.”

Elaborating on the sector’s expectations, Chaya added, “Our industry directly employs thousands and indirectly supports countless more families across the region. We are optimistic that the new administration will prioritize tourism infrastructure development, ease of doing business, and create a more conducive environment for both domestic and international tourists.”

“The hotel industry has several pressing concerns that need immediate attention - from infrastructure upgradation to marketing Kashmir as a premier tourist destination. We have complete faith that the new government understands these challenges and will work collaboratively with stakeholders to address them,” he emphasised.

In an extensive statement, A P Vicky Shaw, Chairman of the PHD Chamber of Commerce and Industry Kashmir, offered comprehensive perspectives on the electoral outcome. “We extend heartfelt congratulations to the voters of Jammu and Kashmir on their active participation in the recent elections,” Shaw began. “We applaud the commitment of all citizens who exercised their democratic right, showcasing a fervent belief in the electoral process.”

Elaborating on the Chamber’s position, Shaw continued, “We would like to congratulate the winning parties and candidates on their success. The results reflect the will of the people, who have cast their votes for those they trust to address their needs and concerns within our industry, trade, and commerce sectors.”

Shaw further emphasized the Chamber’s optimism about future collaboration: “We are optimistic that the newly elected representatives will prioritize the resolution of these pressing issues, ultimately promoting growth and development in our region. The people of Jammu and Kashmir have spoken clearly, providing a mandate to those they believe will work tirelessly for the betterment of the masses.”

Regarding future cooperation, Shaw stated, “As a chamber, we wholeheartedly welcome this democratic process and look forward to collaborating with the elected government. We stand ready to contribute our expertise and support in fostering a productive partnership that aligns with the vision for a prosperous marketplace in Jammu and Kashmir.”

The PHD Chamber chairman concluded with a vision for the future: “Together, we can build a robust environment that promotes economic growth, enhances trade, and uplifts the welfare of our communities.”

The business community’s positive response comes at a crucial time when local enterprises are facing various challenges and seeking government support for economic revival in the region. The unified voice of various business organizations underscores the importance of collaborative efforts between the government and private sector for the region’s economic development.