Crime Today News
After sluggish sales, business across the Valley began picking up with markets witnessing an uptick in footfalls ahead of the Eid- ul- Fitr.
In the lead up to the festival, people, usually, throng markets to buy new clothes, bakery, and confectionery. However, over the last few days, the festive fervour was missing from the bazars in Srinagar and other key townships. As Eid draws closer, though, markets are now witnessing a last-minute rush.
Eid marks the end of Ramadan, the holy month of fasting. It is likely to be celebrated on Monday, depending on the sighting of the crescent moon.
Amidst a bustling cityscape, the shoppers’ rush has begun to take over Srinagar’s business nerve centre, Lal Chowk, along with Gonikhan and the old bazaars in the downtown area.
“The market is teeming with customers. We hope the footfalls will increase as the day progresses”, said Javed Ahmad, a crockery seller.
He, however, added that there was still a dip in usual business.
Mushtaq Ahmad, who runs a readymade clothing store, said that sales had picked up since Saturday but remained sluggish.
The demand for festival essentials surged with bakeries, confectionery shops, and mutton and poultry vendors witnessing a heavy rush of customers.
This Ramadan, mutton sales in the Valley reached around ₹225 crore, while dates sales amounted to ₹25 to 30 crores.
Sluggish business
Qazi Touseef, spokesperson Kashmir Economic Alliance (ECA) told businessline that market was responding to essential commodities only.
He said that even during the festival season there was at least 50 percent dip in usual business.
According to Touseef, the business has been witnessing a downturn over the last two years.
He attributed the decline to heavy debts, inflation, and growing e-commerce.
“ The purchasing power of the people has significantly reduced”, said the spokesperson.
Jammu and Kashmir has witnessed a surge in liabilities. According to the latest Economic Survey 2025, the Union Territory’s total liabilities have risen sharply from approximately ₹42,000 crore in 2013 to ₹1.25 lakh crore in the 2023-24 financial year.
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