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:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
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—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)