The recent facelift to Srinagar’s central business hub, Lal Chowk, under the Smart City Project has infused a new hope among the business fraternity, who are hoping that cash registers will start ringing once again.The influx of tourists and local holidaymakers to the refurbished markets of Lal Chowk and Polo View is pivotal for the city centre, which has witnessed a decline in sales due to a host of reasons during the last few years.
Trade leaders say the iconic city centre has in the past been badly hit as more people opted e-commerce instead of visiting the high-street markets. They say in the past, logistical constraints, such as lack of parking spaces, was also a hurdle in attracting shoppers. The traders though are optimistic that Lal Chowk and nearby markets are set to regain their significance of being the most sought-after shopping destination in the Valley.
Kashmir Economic Alliance president, Mohammad Yaseen Khan said that the business community expects a major boost in the trade following the beautification and renovation of the city undertaken by the administration.
“Business in Kashmir witnessed a major slump in the past many years. Our markets are recovering. The work under the smart city will no doubt benefit the markets. The renovation will be a turning point for the whole area and the business community hopefully in coming days,” said Khan.
He said, “Be it Polo View market or Lal Chowk clock tower, these have become attractive points for commoners, locals, and tourists. The present day city centre is an attraction for tourism which indeed is related to the business domain. Clock tower has become a landmark and a selfie point where you see people in large numbers coming and spending time”.
The president of Kashmir Chamber of Commerce and Industries , Javed Ahmad Tenga expressed hope to see a surge in business after the completion of the projects under smart city.
“Since all the projects have not been completed yet, so there is not much increase in the business. Once all construction and renovation gets the final touches, we can expect a boost in trade-related activities. We hope that the work is completed on fast-track bases. It will be a good attraction for locals and tourists which is directly proportional to the business in this area,” Tenga said. However, Tenga said the administration needs to complete these projects on a fast-track basis.
Shopkeepers in the area say following the beautification of the city, the central hub Lal Chowk has been attracting people from all walks while they were expecting a flip to their business in near future.
“At present a lot of construction work is still going on. Though Lal Chowk has become an attraction for the past few months, there is an expectation that the complete revamping of this place will act as a catalyst to attract more shoppers,” says Muhammad Ibraheem, who runs a clothing store on the Residency Road.
