New Industrial Policy

Syllabus subtopic: Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Industrial Growth.

Prelims and Mains focus: about the new industrial policy and its key objectives

News: With the government aiming to finalise the new industrial policy within the current financial year, the Department for Promotion of Industry and Internal Trade (DPIIT) is seeking specific inputs from ministries and states on focus areas to boost manufacturing and private investment.

Background

Last week, the government organised an inter-ministerial workshop on 14 priority sectors that would need a fillip to boost manufacturing to $1 trillion, including capital goods, electronics, food processing, metals and mining, tourism and renewable energy.

About the new policy

The new industrial policy, which will come over two decades after the last policy was implemented in 1991, has a “wider” focus, especially since manufacturing is expected to account for 20 per cent of India’s $5-trillion economy target.

The broad goal is to give a boost to manufacturing, which has many complexities. It is now embedded in the services sector and manufacturing is also getting more automated. Therefore the govt. also need to keep employment in mind.

This industrial policy is still in the making. It is still in an infancy stage. A lot of material has been collected and a lot of consultations have been held, but there is still more to be done.

The government is looking to resolve issues related to ease of doing business, including developing clusters for backward and forward linkages in the supply chain.

Way ahead

Work is on to understand how to bring in more policy incentives to attract investment, how to make the process easier for these sectors and how to make credit available to them at an affordable rate.

The idea is to bring more private sector investment in all these priority sectors.

Source: Indian Express

Join Our Telegram

Paradip Port

India’s import substitution policy

Formation Day

03 Dec, 25
SHARE

On 1st November, eight Indian states—Andhra Pradesh, Chhattisgarh, Haryana, Karnataka, Kerala, Madhya Pradesh, Punjab, and Tamil Nadu—along with five Union Territories—Andaman and Nicobar Islands, Chandigarh, Delhi, Lakshadweep, and Puducherry—celebrate their Formation Day. This date marks an important milestone in India

Turtle (Kachhua) Wildlife Sanctuary

02 Dec, 25
SHARE

The Turtle Wildlife Sanctuary, also known as the Kachhua Sanctuary, is located in the Varanasi district of Uttar Pradesh. It is recognised as India’s first freshwater turtle wildlife sanctuary, established to conserve endangered turtle species and support the ecological health of the Ganga River. Location and Extent The sanctuary co

Introduction of AI and Computational Thinking (CT) in

02 Dec, 25
SHARE

The Ministry of Education plans to introduce Artificial Intelligence (AI) and Computational Thinking (CT) from Class 3 onwards in the 2026–27 academic year. This initiative is part of the National Curriculum Framework for School Education (NCF-SE) 2023 and aligns with the National Education Policy (NEP) 2020. The aim is to prepare student

Sal Tree

02 Dec, 25
SHARE

Scientists from the Environment Department of Himachal Pradesh University (HPU) in Shimla have recently revealed that the Sal tree (Shorea robusta) is the most effective natural air purifier for combating rising pollution levels. Their findings highlight the tree’s superior capacity to trap dust, absorb gases, and cleanse the air compared

US Resumes Nuclear Weapon Testing

02 Dec, 25
SHARE

The President of the United States has ordered the resumption of nuclear weapon testing after a gap of 33 years, the last test being in 1992. This decision marks a significant shift in global nuclear policy and has far-reaching implications for geopolitics, the environment, and international security. Status of Global Nuclear Weapon Testing