The government has sought suggestions from stakeholders to formulate a new industrial policy to promote manufacturing and job creation in the country.
The government has sought suggestions from stakeholders to formulate a new industrial policy to promote manufacturing and job creation in the country. The new policy also aims at aligning with the government’s flagship programmes such as Make in India, Skill India, Startup India and the foreign direct investment norms. “The government is formulating a new industrial policy. To this effect, your inputs are valuable to us,” the Department of Industrial Policy and Promotion (DIPP), under the commerce and industry ministry, said. The DIPP has already constituted six groups for preparing a framework of the policy. Besides taxation, MSME (micro, small and medium enterprises) and innovation & technology, the groups would prepare reports on infrastructure, intellectual property rights (IPRs), ease of doing business and employability of future workforce. The new policy would completely revamp the industrial policy of 1991, an official said. Members of these groups include government officials, academicians and representatives of professional firms. The draft of the policy should be ready by September.