Karewas are unique geomorphological features primarily found in the Kashmir Valley and the Bhadarwah Valley of the Jammu and Kashmir Union Territory, India. They are elevated tablelands or flat-topped mounds, often appearing as terraces, that stand above the surrounding plains. Their physical formation is intrinsically linked to the glacial and lacustrine (lake) activities during the Pleistocene epoch. Geologically, Karewas are composed of unconsolidated sediments, including silt, clay, sand, gravel, and boulders, often interbedded with morainic deposits. These sediments were deposited in ancient lakes that formed when the uplift of the Pir Panjal range blocked the drainage of the Jhelum river and its tributaries. Over time, as the lakes drained and the region experienced further tectonic activity and erosion, these lacustrine deposits were uplifted and dissected, forming the distinct Karewa landforms.

The economic significance of Karewas is profound and multifaceted, primarily due to their fertile soil composition and strategic location:

1. Saffron Cultivation: The most renowned economic contribution of Karewas is their role as the exclusive habitat for the cultivation of saffron (Crocus sativus) in India. The specific soil type (silty-clayey loam), good drainage, and climatic conditions of the Karewas, particularly in Pampore, are ideal for saffron, which is one of the world's most expensive spices. This cultivation provides significant income and employment to local communities.
2. Horticulture: Beyond saffron, Karewas are highly fertile and support extensive horticulture. They are prime areas for growing temperate fruits such as apples, almonds, walnuts, peaches, cherries, and apricots. These fruits are a major source of livelihood for farmers and contribute significantly to the region's agricultural economy.
3. Agriculture: While horticulture dominates, Karewas also support the cultivation of other crops like rice, maize, and mustard in certain pockets, contributing to food security and local agricultural output.
4. Tourism: The scenic beauty of the Karewa landscapes, especially during the saffron blooming season, attracts tourists, contributing to the local tourism industry and generating revenue through related services.
5. Paleobotanical and Archaeological Importance: From a scientific perspective, the sedimentary layers of Karewas contain valuable paleobotanical and archaeological records. These deposits provide crucial insights into past climatic conditions, vegetation patterns, and early human settlements in the Himalayas, making them significant for research and understanding regional history.
6. Water Retention: The porous nature of some Karewa sediments allows for good water retention, which can be beneficial for agriculture, especially in rain-fed areas.

In essence, Karewas are not just geological formations but vital economic assets that underpin the agricultural prosperity and cultural identity of the Kashmir Valley, with saffron cultivation being their most distinctive and economically valuable characteristic.