Kashmiri economist says that market share for Kashmiri carpets is less than 7% and decreasing
Global meltdown casts its spell on world famed Kashmir carpet industry
Shabir Ibn Yusuf (Kashmir Times)
SRINAGAR: The last 20 years of unending turmoil could not affect the 700 year old popular carpet industry of Kashmir, but now recession is threatening the industry if the officials and the people associated with it are believed.
Meanwhile Jammu and Kashmir Bank is devising a plan to support the carpet weavers in these troubled times.
The valley, according to official records, has at least 200,000 weavers that create expensive silk and woolen carpets and these are sold in Europe, USA and many other countries in the world.
Official records maintain that last year, exports were down to 135 million compared with 174 million in 2006. And the demand is declining and importers are canceling the orders. This year, officials at the government’s handloom department expect sales to reach a maximum of 2 billion rupees.
Muneer Ahmad is associated with carpet industry, he says that now there are fewer buyers. “Industry is getting affecting badly. Now there are fewer buyers and foreign buyers are canceling their orders,” he said adding, “The two decades of turmoil could not affect the industry in such a way.”
Ishfaq Ahmad who runs a carpet showroom says, “We used to sell five to six carpets a day, but during the past 15 days we have sold only two,” adding, “Buyers are offering us very low rates, and if we agree we will incur huge losses.”
The valley of Kashmir is dotted with rolling meadows, gushing streams and beautiful lakes, and is one of the popular tourist destinations, with visitors often picking up carpets as souvenirs.
Noted economist and Chairman Jammu and Kashmir Bank Dr Haseeb Drabu, two days ago, while inaugurating series of new branches and ATMs in the valley also admitted that carpet industry is under tremendous threat and the Bank is devising a plan to help the weavers. “Carpet industry is under tremendous threat and the weavers will have no other option but to shift to other vocations,” he said adding, “As against sale of 1,85000 carpets in the global market, this year we have been able to sell just 12000 carpets and this is simply the adverse impact of global melt down. To support the weavers in such situation, the bank is devising a plan to provide financial support to the people associated with the trade,” he said.