Srinagar, Apr 08 (KNO): The Kashmir Chamber of Commerce and Industry (KCC&I) has welcomed the ceasefire between the United States and Iran, expressing hope that the development will ease geopolitical tensions and restore economic stability across regions impacted by the conflict.
The Chamber, in a statement issued to the news agency—Kashmir News Observer (KNO), said that conflicts in West Asia have far-reaching and cascading effects on economies worldwide, and Jammu and Kashmir has not remained immune to these disruptions. The recent tensions, it noted, had adversely affected trade and business sentiment in the region.
KCC&I said that exports from Kashmir witnessed a decline during the period of heightened tensions, while several sectors faced operational challenges. "In particular, issues related to the supply of commercial LPG to hotels and restaurants created additional strain on the hospitality sector, which is already navigating a fragile recovery phase," it said.
The Chamber observed that the overall business sentiment remained subdued amid uncertainty, with traders and entrepreneurs facing disruptions linked to supply chains and market access. "Stability in West Asia is crucial not only for global markets but also for regional economies like Jammu and Kashmir that are closely tied to external trade dynamics," it said.
Welcoming the ceasefire, KCC&I expressed hope that it would not be a short-term arrangement but would lead to sustained peace and long-term stability in the region.
"The business community sincerely hopes that this ceasefire will not be limited to a brief period but will pave the way for enduring peace, which is essential for economic recovery and growth,” the Chamber said.
KCC&I reiterated that lasting geopolitical stability is vital for restoring confidence among businesses and ensuring uninterrupted trade and supply chains in Jammu and Kashmir—(KNO)