Govt to release new
industrial policy by October
Under the
Commerce and Industry Ministry, the Department of Industrial Policy and
Promotion (DIPP) is likely to release a new industrial policy by October which
will focus on encouraging Indian branded products with higher value addition.
The proposed policy will also review the existing foreign direct investment (FDI) policy regime to facilitate greater technology transfer. The policy is expected to replace the United Progressive Alliance government’s National Manufacturing Policy (NMP) released in 2011, which sought to create 100 million jobs by 2022.
The proposed policy will also review the existing foreign direct investment (FDI) policy regime to facilitate greater technology transfer. The policy is expected to replace the United Progressive Alliance government’s National Manufacturing Policy (NMP) released in 2011, which sought to create 100 million jobs by 2022.
It is time to
shift from a policy of ‘continuity with change’ in 1991 to radical and accelerated
reforms for greater strategic engagement with the world. A comprehensive,
actionable, outcome-oriented industrial policy will enable industry to deliver
a larger role in the economy; to fulfil its role as the engine of growth and to
shoulder the responsibility of adding more value and jobs
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