Kashmir handicraft export revenue declines from August

Kashmir handicraft export revenue declines from August

SRINAGAR: For the fourth time in last six years, Kashmir handicraft sector, which is one of the main drivers of the economy, has suffered immense losses.
During the current year’s first two quarters, the sector which is spread over more than six types of handicrafts have faced shortfall in export revenue almost by half.
Government figures recorded from April to July suggest that the export revenue stood at Rs 298.29 crore. The subsequent three months, however, saw only Rs 187.47 crore revenue.
This dip in exports occurred in August-November months during which Kashmir witnessed shutdown following abrogation of Article 370.
The figures reveal that carpets which hold major share in the list of handicraft sector has faced a highest drop. In April-July quarter, revenue drawn from carpet exports stood at Rs 122.65 crore. However, it declined to Rs 76.26 crore in August-November. Similarly, Kashmir shawls saw a decline from Rs 88.70 crore to Rs 57.23 crore and crewel from Rs 82.17 to Rs 51.03 crore.
Stakeholders hold lockdown and internet shutdown imposed on August 5 to prevent protests against the scrapping of the special constitutional status of Jammu and Kashmir as a reason for decline.
Kashmir Chamber of Commerce and Industry (KCCI) president Sheikh Ashiq said that handicraft sector saw highest exports in 2013. The aggregate export stood at Rs 1400 crore that year. However, it never touched that figure after the floods ravaged Kashmir caused major damages and destruction in 2014, he added.
“It received another jolt during 2016 due to protests and bad economic situation globally. When it was picking up, the government of India came up with the GST law that gave it a major blow.
“Now this year the losses are unprecedented. The four months of lockdown has crippled the sector because it will have bearing of next year as well,” Sheikh told Kashmir Reader.

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