Economy
Tourism is one of the main sources of income for vast sections of the Kashmiri population. Kashmir Valley‘s economy is centred around tourism and agriculture. Traditionally the staple crop of the valley is rice, it forms the chief food of the people. In addition, Indian corn, wheat, barley and oats are also grown. Given its temperate climate, it is suited for crops like asparagus, artichoke, seakale, broad beans, scarlet runners, beetroot, cauliflower and cabbage. Fruit trees are common in the valley, and the cultivated orchards yield pears, apples, peaches, and cherries. The chief trees are deodar, firs and pines, chenar or plane, maple, birch and walnut, apple and cherry.
Historically, Kashmir became known worldwide when Cashmere wool was exported to other regions and nations (exports have ceased due to decreased abundance of the cashmere goat and increased competition from China). Kashmiris are well adept at knitting and making Pashmina shawls, silk carpets, rugs, kurtas, and pottery. Saffron, too, is grown in Kashmir. Efforts are on to export the naturally grown fruits and vegetables as organic foods mainly to the Middle East. Srinagar is known for its silver-work, papier mache, wood-carving, and the weaving of silk.
The economy was badly damaged by the 2005 Kashmir earthquake which, as of October 8, 2005, resulted around 1,500 deaths in Kashmir Valley.
Kashmir Valley is believed to have potentially rich rocks containing hydrocarbon reserves.
Read more about this topic: Kashmir Valley
Famous quotes containing the word economy:
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)