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A Project Report ON: "Industrial Policy"

This document is a project report on India's industrial policy prepared by students at Indukaka IpcoWala Institute of Management under the guidance of Ms. Kinjal Mistri. The report provides an overview of India's new industrial policy announced in 1991, which aimed to deregulate and liberalize the industrial sector. Key aspects of the new policy included abolishing industrial licensing, reducing the number of reserved industries for the public sector, amending the MRTP Act, promoting foreign investment and technology, and liberalizing industrial location policies. The overall objectives of the new industrial policy were to promote self-reliance, entrepreneurship, employment, and link the Indian economy to global markets.

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61 views6 pages

A Project Report ON: "Industrial Policy"

This document is a project report on India's industrial policy prepared by students at Indukaka IpcoWala Institute of Management under the guidance of Ms. Kinjal Mistri. The report provides an overview of India's new industrial policy announced in 1991, which aimed to deregulate and liberalize the industrial sector. Key aspects of the new policy included abolishing industrial licensing, reducing the number of reserved industries for the public sector, amending the MRTP Act, promoting foreign investment and technology, and liberalizing industrial location policies. The overall objectives of the new industrial policy were to promote self-reliance, entrepreneurship, employment, and link the Indian economy to global markets.

Uploaded by

jit5742
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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A

PROJECT REPORT
ON

INDUSTRIAL POLICY

PREPARED BY
Patel Tarun (13MBA083)
Shah Vitrag (13MBA102)
Sharma Jitendra (13MBA103)
Ansari Imran (13MBA003)
Vaghela Raviraj (13MBA121)
Vasoya Dipen (13MBA123)
Patel Ravi (13MBA077)

Under the guidance of
Ms. Kinjal Mistri, Assistant Professor, I2IM

IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF
THE COURSE
MB707.1 MACRO-ECONOMICS AND BUSINESS
ENVIRONMENT (MEBE)
OF
SEMESTER- II
MBA/PGDM PROGRAMME (2013-15)

SUBMITTED TO
INDUKAKA IPCOWALA INSTITUTE OF
MANAGEMENT (I2IM)
CHAROTAR UNIVERSITY OF SCIENCE AND TECHNOLOGY
(CHARUSAT)
Introduction:
Industrial policy means, government-sponsored economic program in
which the public and private sectors coordinate their efforts to develop new
technologies and industries. Government provides the financial support and capital
to the private sector by direct subsidies, tax credits, or government-run
developmental banks. Industrial policy emphasizes cooperation between
government, banks, private enterprise, and employees to strengthen the national
economy.
The industrial policy consists of following contents;
(1) The policies in regard to the improvement of infrastructure for industries.
(2) Industrial structure policies concerning the resource allocation between
industries (that is, industrial promotion policy, industrial adjustment policy).
(3) The industrial organization policies, which do the effects on the market
structure or the market conduct in individual industries.
New Industrial Policy:
The government announced a New Industrial Policy on July 24, 1991. This new
policy deregulates the industrial economy in a substantial manner.
And this new industrial policy include
Industrial Licensing
Foreign Investment
Foreign Technology Agreements
Public Sector Policy
MRTP Act.

1. Abolition of Industrial Licensing:
In a major move to liberalize the economy, the new industrial policy
abolished all industrial licensing irrespective of the level of investment
except for certain industries related to security and strategic concerns, and
social reasons.
2. Public Sectors Role Diluted:
The number of industries reserved for the public sector since 1956 was
seventeen. This number has now been reduced to three. They are arms and
ammunition and allied items of defense equipment, atomic energy and rail
transport..
4. MRTP Act:
MRTP Act has been amended to remove the threshold limits of assets in
respect of MRTP companies and dominant undertakings.
The new industrial policy also states that the government will undertake
review of the existing public enterprises in low technology, small-scale and
non-strategic areas. Sick units will be referred to the Board for Industrial and
Financial Reconstruction for advice about rehabilitation and reconstruction.
5. Free Entry to Foreign Investment and Technology:
The Government is committed to promote increased flow of Foreign Direct
Investment (FDI) for better technology, modernisation, exports and for
providing products and services of international standards.
.6. Industrial Location Policy Liberalised:
The new industrial policy provides that in locations other than cities of more
than 1 million populations, there will be no requirement of obtaining
industrial approvals from the centre, except for industries subject to
compulsory licensing.














Objective of industrial policy:
Succinctly, the objectives of the new Industrial policy are:
a) Self reliance to build on the many sided gains already made.
b) Encouragement to Indian entrepreneurship, promotion of productivity and
employment generation.
c) Development of indigenous technology through greater investment in R &
D and bringing in new technology to help Indian manufacturing units
attain world standards.
d) Removing the regulatory system and other weaknesses.
e) Increasing the competitiveness of industries for the benefit of the common
man.
f) Incentives for the industrialization of backward areas.
g) Enhanced support to the small-scale sector.
h) Ensure running of public sector undertakings on business lines and cut
their losses.
i) Protect the interests of workers.
j) Abolish the monopoly of any sector in any field of manufacture except on
strategic or security grounds.
k) To link Indian economy to the global market so that we acquire the ability
to pay for imports, and to make us less dependent on aid.
Statistics:

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