BUSINESS

The indigenous Hirpora Red Potato, renowned for its unique taste and texture, is on the brink of extinction, locals in the Hirpora area of south Kashmir have warned. Hirpora, located along the historic Mughal Road and surrounded by the Hirpora Wildlife Sanctuary, is traditionally known for its potato cultivation. Once a staple crop grown by many in the region, the production of this prized variety, also known as ‘Katt-e-Maaz Aolu’ (Mutton Potato), has sharply declined, with only a handful of farmers continuing to cultivate it. Speaking to the news agency—Kashmir News Observer (KNO), residents from Hirpora said that the potato, known throughout India for its distinct flavour and crunch, has seen a dramatic reduction in cultivation due to factors like excessive use of chemical ferti...

Employees of Jammu Kashmir’s Small Scale Industries Development Corporation (SICOP) have petitioned Deputy Chief Minister Surinder Choudhary, calling for immediate intervention to tackle what they describe as a “crisis” facing the organization. In their memorandum, SICOP’s employees highlighted severe challenges impacting their livelihoods and the future of small-scale industries across the region. “Our marketing capabilities have been severely compromised, leaving thousands of families and SICOP workers in jeopardy,” stated the union, noting that SICOP’s turnover has dropped significantly from ₹1,200 crore in recent years. They pointed out critical issues, including unpaid salaries and pending retirement benefits. “Many of our employees have gone without pay for months, and retir...

In a remarkable season for Kashmir’s horticulture industry, approximately 9 lakh metric tons of fruit, valued at around 600 crores, has been dispatched over the past four months, with Sopore Fruit Mandi alone, contributed 4-5 lakh metric tons to this total. Speaking with the news agency—Kashmir News Observer (KNO), the president of Sopore Fruit Mandi, Fayaz Ahmed Malik, known as Kaka Ji, said that with the peak apple season, around 250 trucks are loaded with fruit daily from Sopore Mandi, the second-largest fruit market in Asia, where prices are robust and meeting expectations. He said this positive trend is due to favourable market rates and a steady demand despite less-than-ideal weather conditions this year. “The rates, including those for early varieties, are strong and align wit...

The Ministry of Science and Technology has introduced a breakthrough in anti-counterfeiting technology with the development of a new ink designed to enhance security for currency, certificates, branded products, and medicines. This innovative ink, created by researchers at the Institute of Nano Science and Technology (INST), uses luminescent nanomaterials to produce distinct color changes under different light wavelengths, allowing for easy verification of authenticity. According to the ministry's press release, the ink incorporates rare earth materials that emit unique colors depending on the type of light exposure. For instance, the ink glows blue under 365 nm light, pink under 395 nm light, and orange-red under 980 nm near-infrared (NIR) light. Unlike conventional UV-sensitive ...

The Federation of Chambers of Industries Kashmir (FCIK) has expressed serious concerns about the long-term financial health of Jammu Kashmir Bank, citing its growing dependence on non-core income for profits. During a meeting at the FCIK headquarters, senior members and the Advisory Committee reviewed the bank's latest financial reports and flagged issues that could undermine its stability in a volatile economic climate. The FCIK emphasized that while J&K Bank has reported significant financial gains, much of this success is tied to non-core income sources, such as trading and asset recoveries. The chamber pointed out that such gains, particularly from settling Non-Performing Assets (NPAs), lack the stability required for sustainable growth. "Over-reliance on non-core incom...

Jammu Kashmir has attained third rank among the States/UTs in Food Safety Index 2023-24, being conferred by FSSAI to the states / UTs every year. The award was presented by Union Minister for Health & Family Welfare, J P Nadda, in presence of Pralhad Joshi, Union Minister for Consumer Affairs, Food and Public Distribution and Minister for New and Renewable Energy at Bharat Mandapam and CEO FSSAI, G. Kamala Vardhana Rao on the eve of second edition of Global Food Regulators Summit 2024 hosted by FSSAI alongside the World Food India, today in New Delhi. The Food Safety Index is a dynamic quantitative and qualitative benchmarking model that provides an objective framework for evaluating food safety across all States/UTs. The Food Safety and Standards Authority of India (FSSAI) be...

Khyber Agro Pvt Ltd, a leading name in Kashmir's dairy industry, has unveiled its new 1kg curd product in eco-friendly IML Bucket packaging. The launch event took place at the company's headquarters in Hyderpora, Srinagar, and was attended by notable figures including Manan Tramboo, Managing Director of Khyber Agro Pvt Ltd, and Hashmat Ali Yatoo (IAS), Commissioner of the Food and Drugs Administration (FDA) of Jammu & Kashmir. The introduction of this curd product signifies a significant milestone in Khyber Agro’s sustainability efforts, aligning with the Eat Right India movement's focus on eco-friendly food practices. The biodegradable bucket packaging represents a key innovation aimed at reducing plastic waste, combining convenience for consumers with environmental responsib...

Kashmir’s handloom and handicraft exports have more than doubled over the past two years, with export figures surpassing Rs 1100 crores. Artisan on work on a loom weaving Kashmir Carpet using a unique ‘Zari’ technology, incorporating a metallic thread and multiple colours to make the iconic craft noticeable in the International market According to figures, exports surged from Rs 563 crore in 2021-22 to a remarkable Rs 1,162 crore in 2023-24, reflecting a robust growth trajectory. The sharp increase highlights the rising global demand for Kashmiri craftsmanship, renowned for its intricate designs and high-quality materials. Figures suggest that against Rs 165.98 crore in 2021-22, shawls worth Rs 424.20 crore were exported in the last fiscal year. Similarly, against Rs 251.05 cro...

Danishwar Hameed Residents of Kulgam are facing major disruptions as the local BSNL exchange has stopped distributing SIM cards. This unforeseen suspension has left many without access to mobile services, severely affecting communication, online transactions, and other essential services. A local resident expressed frustration, saying, "The lack of available SIM cards is making it difficult for many to connect with family, obtain crucial information, and carry out daily business activities." Locals said that the halt has caused significant inconvenience, particularly for newcomers or those who have lost their SIM cards. In response to these difficulties, community members are calling on the district administration to address the issue urgently. "We are requesting an investig...

Several tea stalls deemed illegal by authorities at tourist resort Doodhpathri in central Kashmir’s Budgam were gutted mysteriously in a fire incident. The fire broke out in the intervening night of July 21 and 22. Sources told news agency Kashmir News Trust that the cause of the fire was probably the gas cylinder explosion, however, an official said that they are investigating the matter. “There is a great distance between two such tea stalls. Surprisingly, several stalls have caught fire and were damaged in the fire incident. How the fire spread, is something astonishing,” he said. These tea stalls have been running illegally without permission from the authorities. Doodhpathri Development Authority (DDA) recently asked the owners of ‘illegal’ tea vendors to vacate the spa...