Winter athletes heading up the mountain in Gulmarg, Indian Kashmir, to ski. Photo: Wasim Nabi
Winter athletes heading up the mountain in Gulmarg, Indian Kashmir, to ski. Photo: Wasim Nabi
Winter athletes heading up the mountain in Gulmarg, Indian Kashmir, to ski. Photo: Wasim Nabi
Winter athletes heading up the mountain in Gulmarg, Indian Kashmir, to ski. Photo: Wasim Nabi

Can Gulmarg in Indian Kashmir compete as a global winter sports destination?


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A dense fog blankets the snow-covered plateaus of Gulmarg, a winter sports destination on the Indian side of Kashmir. Hundreds of visitors, many of them athletes, navigate their way through the gloom towards the gondola station, home to the second-longest and second-highest cable car in the world.

Staff help visitors board the aerial lift and within minutes, passengers arrive at the slopes where India recently hosted part of the fifth Khelo India Winter Games.

The national event, launched to promote grass-roots sports, has become an important platform for young athletes. Competitors from across the country participate, striving to win medals for their respective states in sports including ski-mountaineering, Alpine skiing, snowboarding and Nordic skiing. This year, the winter games were held in early March.

Praveen Sood, a ski-mountaineering coach and international medallist from Sikkim, north-east India, believes Gulmarg has the potential to become a top winter sports destination in South Asia.

“The area has natural advantages like high-altitude terrain, heavy snowfall and long skiing slopes, making it an ideal place for winter sports,” Sood says. “Events like Khelo India attract athletes from around the country and showcase Gulmarg’s potential to an international audience.”

Gulmarg baby slopes in northern Kashmir, where visitors learn to ski. Photo: Wasim Nabi
Gulmarg baby slopes in northern Kashmir, where visitors learn to ski. Photo: Wasim Nabi

He says Gulmarg’s terrain is often compared to European ski resorts, attracting winter sports enthusiasts from countries such as England, the US and Australia.

“I believe Gulmarg is an ideal destination for winter sports. However, it lacks the infrastructure to host international events like those held in Japan’s Hokkaido [Niseko, Furano] and Nagano [Hakuba, Shiga Kogen],” Sood says. “The Indian government, and the Jammu and Kashmir government, should prioritise setting up high-speed chairlifts and additional cable cars to transport large numbers of skiers quickly,” he adds, before noting that Niseko alone has at least 40 lifts across its connected resorts.

Umer Al Mohammad, a former winter sports athlete and the competition manager at this year's Khelo India, agrees that large-scale infrastructure is needed in Gulmarg. He suggests improving facilities such as ski lifts, accommodation and snow machines would help make Gulmarg a more competitive destination on the global winter sports map.

“We have seen some improvements, but more needs to be done to attract local, national and international athletes,” Al Mohammad says. “Besides fast cable-car lifts, there is an urgent need for automated lift ticket systems, well-organised ski-patrol teams, avalanche control measures and emergency medical facilities.”

Jammu and Kashmir Sports Council secretary Nuzhat Gull tells The National that organising national-level winter games is a crucial step in developing Indian athletes, helping them learn and refine their skills in the sport they love. In her opinion, Kashmir hosting international winter games is not far off.

Much of Gulmarg is hilly terrain, in northern Kashmir’s Baramulla district. It is thought to have the potential to become the top spot for winter sports in South Asia. Photo: Wasim Nabi
Much of Gulmarg is hilly terrain, in northern Kashmir’s Baramulla district. It is thought to have the potential to become the top spot for winter sports in South Asia. Photo: Wasim Nabi

“When the government decides to host an international event, all necessary measures will be taken to make it successful,” Gull says. “The government plans to expand winter sports beyond Gulmarg to locations like Sonmarg, Doodhpathri, Shopian and Kishtwar, and it will help us upgrade our sports infrastructure.”

Urmila Das, a snowboarder from Maharashtra, South India, suggests the Jammu and Kashmir Sports Council and the tourism department, should visit popular winter sports destinations around the world to grasp an understanding of the necessary infrastructure they have in place.

“The time for makeshift arrangements is over. People now want permanent infrastructure where they can spend quality time in comfort. There is a need for a dispensary, resting lodges and enough washrooms,” Das tells The National. “Switzerland, Austria, Canada and Japan are far ahead of us. India has the potential to match their infrastructure, but as a country, we need to visit these places, sign agreements and build facilities that meet international standards.”

Omar Abdullah, chief minister of Jammu and Kashmir, emphasised the need to upgrade Gulmarg’s sports facilities, saying its infrastructure “dates back to the British era”. He adds: “What we have today is still not enough to meet the growing demands of winter sports and tourism.”

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Updated: March 25, 2025, 6:51 AM