Srinagar, Jan 26, Jan. 27 -- The Federation of Chambers of Industries Kashmir (FCIK) has urged an immediate overhaul of Jammu and Kashmir's public procurement policy, warning that massive government capital expenditure has largely failed to benefit local manufacturing and employment. As the government reviews its Industrial Policy, FCIK highlighted that despite unprecedented public spending, local Micro, Small and Medium Enterprises (MSMEs) continue to face a severe shortage of supply orders, pushing many manufacturing units towards closure.Between 2020-21 and 2024-25, the government spent over Rs.1.58 lakh crore on capital expenditure, with an additional Rs.32,607 crore allocated for the current financial year. Substantial spending also ...