Its pronunciation in Hindi is /kashmiir/ with the double-i representing a long e sound.
It's etymology is not routed in Hindi but:
The Nilamata Purana describes the Valley's origin from the waters, a fact corroborated by prominent geologists, and shows how the very name of the land was derived from the process of desiccation - Ka means "water" and Shimir means "to desiccate". Hence, Kashmir stands for "a land desiccated from water". There is also a theory which takes Kashmir to be a contraction of Kashyapmir or Kashyapmeru, the "sea or mountain of Kashyapa", the sage who is credited with having drained the waters of the primordial lake Satisar, that Kashmir was before it was reclaimed. The Nilamata Purana gives the name Kashmira to the Valley considering it to be an embodiment of Uma and it is the Kashmir that the world knows today.