The aftermath of the Pahalgam Terror Attack has started to be witnessed in Punjab, especially in Ludhiana. The well-known Ludhiana hosiery industry is all set to be a casualty of the Pahalgam Terror Attack due to a sharp decline in tourism in Srinagar, Kashmir. While multiple videos suggest that tourists are resuming their visit to the Valley, the administration of Jammu and Kashmir has shut down at least 48 tourist places in the valley as the Indian Security Forces continue to hunt for the terrorists and the locals who were involved in the cowardly Pahalgam Terror Attack.
However, the tensions in the valley are now directly impacting the business ecosystem beyond Jammu and Kashmir, i.e. to the Ludhiana’s renowned hosiery industry. The terror attack and the tensions in the valley have declined tourist footfall in Srinagar, which in turn has crippled garment trade and supply chains dependent on seasonal demand.
Jammu and Kashmir is a key market for Ludhiana’s hosiery products. Tourists, who are the primary buyers of these garments, are now staying away, leading to massive disruptions in business operations. As per Vinod Thapar, a prominent businessman and President of the Ludhiana Hosiery Industry, Ludhiana’s hosiery sector, which relies heavily on summer and holiday season sales in the valley, is staring at an estimated loss of Rs 50,000 crore. Industry leaders are sounding the alarm over potential long-term damage.