HEAL CONFLICT-HIT J&K ECONOMY
In the midst of the prevailing conflict and security challenges in Jammu & Kashmir, the voice of the business community cannot be overlooked. The economic fallout of ongoing hostilities is rapidly escalating beyond routine disruptions—it is now threatening to push entire sectors into paralysis. The recent meeting of the Executive Council of ICC Jammu, under the leadership of its Chairman Rahul Sahai, was not just a ceremonial exercise in solidarity but a substantive session where grave socio-economic concerns were laid bare, and practical, solution-oriented suggestions were put forth.
This is a moment when the concerns of industry, trade, and civil society must be treated with the same urgency as military and strategic responses. Businesses are bleeding, tourism is crippled, and livelihoods are vanishing. The exodus of labourers from the region, driven by fear and uncertainty, has stalled operations in industries, hotels, and trading houses by up to 70%, as per one estimate. The call from the Chamber to immediately halt this labour flight and rebuild worker confidence is not just an economic imperative but a humanitarian necessity. Without timely interventions such as free transport, safety assurances, and official communication in the labourers’ home states, this situation could spiral into a prolonged productivity crisis that Jammu’s already fragile economy cannot afford. Equally alarming is the refusal of insurance companies to honour claims under the “Act of War” clause. The Chamber rightly flagged this as a ticking time bomb. It is unacceptable that businesses, already under duress, are being told their insurance will not cover damages from the current crisis. If left unaddressed, this policy gap will erode the very idea of risk mitigation, discourage entrepreneurship, and leave the industrial backbone of Jammu exposed to existential threats. The Finance Ministry and the Insurance Regulatory and Development Authority of India (IRDAI) must step in immediately to rectify this unjustifiable exclusion and protect business interests. The Chamber has done well to spell out actionable demands across domains, ranging from GST refunds and pending government payments to the restoration of flights, 24×7 highway access, and uninterrupted power supply. Particularly commendable is its focus on reviving tourism through positive national campaigns and reversing the trend of damaging hashtags that unfairly paint Jammu and Kashmir with a single brush. If anything, this crisis has shown the need for nuanced narratives and collective promotion of peace and progress in both regions of the Union Territory. Rahul Sahai’s articulation of concerns and his acknowledgment of the efforts by both Lieutenant Governor Manoj Sinha and Chief Minister Omar Abdullah reflect a balanced and constructive tone that rises above partisan lines. It is not often that trade bodies publicly recognize administrative efforts during times of conflict, but here, ICC Jammu has shown maturity by appreciating the outreach and commitment shown by both leaders—especially when the Chief Minister travelled by road to meet stakeholders and the Lieutenant Governor opened Raj Bhawan to hear industrial and other social concerns. From advocating for a sector-wise MSME relief strategy—including interest subvention and concessional working capital—the ICC has presented a policy vision that is as detailed as it is urgent. The recommendation to form an Industrial Consultative Committee involving trade and industry representatives shows foresight and inclusivity. In chaotic times, structured engagement can offer the anchor that industries desperately need.
In all of this, the Chamber’s role must be seen not as that of a lobbyist for trade privileges but as a responsible stakeholder in the socio-economic fabric of Jammu and Kashmir. When business leaders advocate for calm, clarity, and collaboration, it must serve as a reminder that the private sector is not merely a revenue generator—it is a pillar of peace, development, and national integration. As we navigate these turbulent waters, it is imperative that the government move swiftly to address the issues flagged by ICC Jammu. This is not just about economic survival—it is about safeguarding the confidence of citizens who invest, employ, innovate, and contribute to the idea of a resilient India. Jammu’s industry has stood firm in countless crises; now it needs the J&K UT to stand by it, not with hollow reassurances, but with immediate, strategic action.
