Srinagar, Jan. 26 -- As the Government of Jammu & Kashmir undertakes a review of its Industrial Policy, the Valley's apex industrial body, the Federation of Chambers of Industries Kashmir (FCIK), has called for an immediate reset of the Public Procurement Policy to ensure that the Union Territory's unprecedented capital expenditure results in local manufacturing, factory employment and industrial capacity building, instead of largely flowing out of the region.
From 2020-21 to 2024-25, the Government of Jammu & Kashmir has spent over Rs.1.58 lakh crore on capital expenditure, while an amount of Rs.32,607 crore has been earmarked for the current year. In addition, a huge amount of spending is undertaken through Central Public Sector Undertak...