The commercial and economic activity is key to the progress of any concerned area in the present world. From some time now the business environment in Jammu and Kashmir especially in the Kashmir Valley is not conducive thus youth are in deep frustration.
Many youth are facing trouble in carrying forward their business activity and are getting buried under loans and huge interests. Many negative developments in the recent years coupled with ragging Coronavirus pandemic from 2020 has broken the back of business activity in the Kashmir and Jammu regions.
The statistics and ground realities bear testimony to this fact.
Recently, Jammu and Kashmir has yet again failed to figure among top 20 States/ Union territories in the ease of doing business ranking released by the Government of India sometime back.
According to the state business reform action plan ranking-2019 released by Union Commerce and Industry ministry, J&K figures at 21st slot in the ease of doing business ranking.
The ranking of States/UTs has based on the implementation of Business Reform Action Plan started in the year 2015. Till date, State Rankings have been released for the years 2015, 2016 and 2017-18.
Economic loss too has been huge that has further hurt the business environment.
According to an assessment report by Kashmir Chamber of Commerce and Industries (KCCI), the Valley’s economy suffered losses of Rs 150 crore on an everyday basis during the period of a pandemic.
KCCI divided the loss assessment report in four phases from August 2019 to August 2020.
Masses are hoping that all round measures would be taken to improve business environment in Jammu and Kashmir so that youth does not suffer further.