Industrial Policy Resolutions are policy statements issued by the Government of India to promote industrial development, growth, and employment. These resolutions outline the framework, guidelines, and strategies for industrial development in the country.
The purpose of Industrial Policy Resolutions is to:
1. Promote Economic Growth: Encourage industrial development and economic growth.
2. Rapid industrialization: Accelerating the growth of heavy and basic industries to build a foundation for the rest of economy.
3. Generate Employment: Create employment opportunities in various sectors.
4. Increase Competitiveness: Enhance the competitiveness of Indian industries in the global market.
5. Attract Investment: Attract domestic and foreign investment in industries.
6. Innovation and Technology: Encourage innovation, research, and development in industries.
7. Infrastructure Development: Develop infrastructure, such as roads, ports, and telecommunications.
8. Private Sector Participation: Encourage private sector participation in industries.
9. Self reliance: Reducing dependence on imports and foreign technology, especially in strategic sectors like defence and energy.
10. Balanced regional development: Incentivising the set-up of factories in backward or rural areas to ensure that economic progress wasn't limited to big cities.
0 Comments