The Biz Reporter
Srinagar: President of the Confederation of All India Traders (CAIT), Kashmir Chapter, Farhan Kitab, has expressed concern over the absence of direct relief measures for the retail trade sector in the Jammu and Kashmir Budget 2026–27.
While acknowledging that the Budget places strong emphasis on infrastructure development, tourism revival, MSME facilitation and capital investment, Farhan Kitab said it has fallen short of addressing the immediate and pressing challenges faced by the retail sector.
He noted that retail trade, one of the largest employment-generating sectors in Jammu and Kashmir, continues to struggle with a prolonged slowdown, weak consumer demand, rising operational costs and a noticeable decline in GST collections, particularly in urban markets.
“This budget may help stabilise the overall environment around retail trade, but it will not revive the retail sector on its own. Revival requires targeted interventions such as GST rationalisation, easier access to credit, tax relief and urban market-specific policies,” he said.
While welcoming initiatives related to ease of doing business, MSME support and tourism promotion, the CAIT President stressed that retail trade cannot be treated merely as a spillover beneficiary. “Retail reflects the real pulse of consumer confidence and ground-level economic activity. Ignoring it weakens the entire economic recovery process,” he added.
Farhan Kitab urged the Government to initiate immediate consultations with retail trade bodies and announce a dedicated, trader-centric package to restore confidence, protect livelihoods and revive traditional markets across Jammu and Kashmir.
He reiterated that Confederation of All India Traders Kashmir remains committed to constructive engagement with the Government to help frame practical, trader-friendly policies aimed at ensuring sustainable growth and economic stability in the Union Territory.
