Debt trap: Business slump forces Innova Driver to sell Clothes at Hazratbal, Srinagar

By: Imtiyaz Shah (Ziraat Times)

Srinagar: In a deeply symbolic scene that reflects the current state of business in the tourism sector in Kashmir, a Toyota Innova cab — worth nearly ₹22 lakhs — is now being used not to ferry tourists, but to sell clothes outside Hazratbal Dargah in Srinagar. The vehicle’s owner, a tourist cab driver, has turned to street vending just to survive.

“Tourism is very down here. This is a very bad phase we’ve seen in years. Cabs are too many, and tourists are fewer,” said another driver nearby, who, like many others, is struggling to repay bank loans taken to purchase vehicles meant for the once-thriving tourist market.

The recent decline in tourist footfall has forced many families dependent on tourism to diversify into odd jobs, informal vending, or worse, default on loans.

The scene at Hazratbal, where a vehicle built for comfort travel now doubles as a mobile shop, is a painful reminder of the growing economic desperation in Kashmir’s service economy. Transporters say they receive few if any bookings in recent weeks, and with fixed costs like EMIs, permits, maintenance, and taxes, the pressure is becoming unbearable.

“What choice do we have? The government has no relief for us, and we’re having too many cabs around with not the kind of business needed to repay loans”,  the Innova driver said, requesting anonymity.

The incident has triggered strong reactions on social media, with hashtags like #Heart_Breaking and #Tourism trending among Kashmiri users, many calling for emergency financial support and a revival plan for tourism workers.

Unless corrective steps are taken, stakeholders warn, Kashmir’s tourism economy—once a key employment engine—risks irreversible damage.