×

UPSC Courses

DNA banner

DAILY NEWS ANALYSIS

  • 22 January, 2020

  • 1 Min Read

New Industrial Policy

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


World bank logistic performance index 2023

India is now ranked 38th out of 139 nations in the Logistic Performance Index (LPI) 2023 of the World Bank. From its previous rankings of 44th in 2018 and 54th in 2014, this is a notable improvement. Earlier, the Logistics Ease Across Different States (LEADS) Report 2022 was published by the Ministry of Commerce and Industry. About Logi

Smuggling of Gold

Airports discovered more than 63% of this illegal gold. The Department of Revenue Intelligence recently conducted the Golden Dawn Operation across India, seizing 101.7 kg of illegal gold valued at Rs 51 crore. Despite the fact that India receives a legal import of about 800-1,000 tonnes of gold each year, the illicit market is thought to be

India-Thailand Relations

Both parties expressed satisfaction with the ongoing bilateral defence cooperation at the 8th India-Thailand Defence Dialogue, which was held in Bangkok, Thailand. Cultural ties and mutual cooperation that have been shaped by thousands of years of lasting historical and cultural ties characterise India and Thailand relations. Highlight

Translocation of Elephants

The Kerala government's appeal of the order of the Kerala High Court is rejected by the Supreme Court. The Kerala government's appeal against the Kerala High Court's directive to move Arikomban (Wild Elephant), the "rice tusker" of Munnar, to the Parambikulam tiger reserve was recently dismissed by the Supreme Court.

Global Buddhist Summit

Global Buddhist Summit In order to improve diplomatic and cultural ties with other nations, the Ministry of Culture recently organised the First Global Buddhist Summit 2023 in collaboration with the International Buddhist Confederation (IBC). About the summit "Responses to Contemporary Challenges: Philosophy to Praxis" is

Toppers

Search By Date

Post Feed

Newsletter Subscription
SMS Alerts