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News: The UT of Kashmir saw a record 1.27 lakh tourists in November, which is much higher than the previous seven-year average. It’s a ray of hope in a land of perennial crisis where people aspire for a safer and prosperous life.
How to improve the Kashmir economy and its tourism potential?
Boost in business: policies should be adopted to bring big business and investment in the region. For this, the government should ensure that the region must be safe and, the business must have viable growth and return prospects. Also, ease of doing business with little political interference or uncertainty is required.
Security: Government should provide gated areas and communities, where security is top-notch. Any terror act in these areas should be dealt strictly.
Tax regime: Government should announce a reduced-tax territory akin to low-tax jurisdictions such as Delaware in the US. This will provide an incentive to businesses to come and invest there.
Tourism: There is a need to upgrade the tourist spots where tourists can chill and relax. To attract the young generation of India to Kashmir, there need to be cafés and bars.
Source: This post is based on the article “Fixing Kashmir-Phase 2” published in the Times of India on 18th December 2021.
