Kashmir

Kashmir is growing as a new investment destination. It is not just the traditional businesses, but instead, the local people, are setting a benchmark for the whole country by venturing into new business models as well.

Rameez Raja, a young Kashmiri entrepreneur, has launched cultural mud houses in the Gandarbal and Kangan area to attract tourists. So far, three mud houses have been constructed using locally sourced materials. He calls this initiative of building beautiful and aesthetically constructed houses 'Kulub mud houses'.

Raja said that the idea came to his mind after the tourists expressed the desire to see a display of local culture.

"The tourists visiting the place wanted a display of local culture, from there only, we got this idea and worked on it," Raja told a news agency.

A Kulub Mud House

Soni Gilani, another young entrepreneur from the valley has opened a new fashion outlet and cupcake bakery and confectionery. She opened her venture after she came back after completing her studies in the United Kingdom.

The initiative is also getting much-needed national as well as international attention. Recently, the Kashmir Entrepreneurship Conclave 2022 invited around 500 applications for investing in Kashmir for business purposes.

Sheikh Ashiq Ahmed, the Chairman of the Kashmir Chamber of Commerce and Industry said that they want to keep the youth engaged in such events.

Since the investment in the valley has been opened to foreign countries, the reports have been positive.

In March, a 31-member group of investors from the United Arab Emirates (UAE) participated in the first-ever overseas visit to the valley. They met local artisans and discussed business prospects while also praising Kashmir's beauty.

There are also several schemes such as Himayat and Tejaswini to help young entrepreneurs.

Under the Himayat scheme, 10,000 youth in the age group of 18-35 are provided training, with atleast half of them given financial assistance to start their own ventures.

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The Tejaswini scheme aims to provide support and training of 3-3.5 years to 10,000 youth (18-35 age group). Further, the scheme also provides financial assistance to at least half of the trained youth for starting their own ventures.