Business associations across the valley say sales have sharply declined in recent years. Traders blame a mix of weak purchasing power, rising costs, online competition and complicated tax compliance. A recent report quoted handicraft traders saying some businesses had fallen by nearly 70 percent over two years.
The pressure is visible everywhere. Shopkeepers who once hired extra workers during Eid now cut staff to reduce expenses. Families that depended on small retail stores are borrowing money to pay school fees and electricity bills. Several markets that once stayed crowded late into the evening now begin shutting early because there are simply not enough buyers.
India’s economy may be growing on paper, but Kashmir’s small traders operate inside a far more fragile environment. Consumer spending remains weak and inflation continues to hurt household budgets. Recent reports showed retail inflation in Jammu and Kashmir staying above the national average, particularly in urban areas where rent, transport and fuel costs have climbed steadily.
Online shopping has deepened the crisis. Large e-commerce platforms offer discounts that neighbourhood stores cannot match. A trader paying rent, wages, taxes and transport costs cannot compete with companies backed by massive capital and nationwide supply chains. Similar complaints are now emerging across India as small retailers warn that unregulated discounting is destroying traditional markets.
Tax compliance has become another burden. Many small businesses in Kashmir still operate with limited digital infrastructure and weak internet connectivity. Filing GST returns, managing invoices and handling online documentation often require accountants that small traders cannot afford. Several trade bodies in Kashmir have repeatedly raised concerns about technical hurdles and compliance stress.
This crisis carries consequences beyond economics. Small markets in Kashmir are social spaces, community anchors and sources of local identity. A shawl seller in downtown Srinagar or a hardware shop owner in Sopore represents more than commerce. These businesses sustain families across generations.
Policy discussions in India often celebrate startups, digital growth and billion-dollar valuations. Much less attention goes to the small trader who opens his shop every day despite shrinking profits and growing uncertainty.
Kashmir economy cannot rely only on tourism trends and infrastructure announcements. Stable local commerce matters equally. A society where small businesses gradually collapse eventually loses both economic strength and social confidence.
The valley traders are not asking for miracles. Most simply want fair competition, easier compliance and customers who still have enough money to spend.
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