Roadmap for Answer Writing
- Introduction
- Briefly state the importance of industrial policies for economic growth and development in India since independence.
- Key Industrial Policies Overview
- Organize the discussion chronologically to highlight the evolution of policies.
- For each policy, include:
- Name of the Policy
- Year of Implementation
- Key Features and Objectives
- Impact on the Industrial Sector
- Conclusion
- Summarize the significance of these policies in shaping India’s industrial landscape.
- Mention any recent initiatives or the need for future policies.
Relevant Facts for the Answer
- Industrial Policy Resolution, 1948:
- “Established a mixed economy and categorized industries into four groups, with restrictions on foreign investments.” (Source: Government of India, Economic Surveys)
- Industrial Policy Resolution, 1956:
- “Referred to as the ‘Economic Constitution of India’, emphasizing public sector expansion and classification of industries into three schedules.” (Source: Ministry of Commerce and Industry)
- Industrial Policy Statement, 1977:
- “Focused on employment for the poor and reducing wealth concentration, while imposing restrictions on multinational companies.” (Source: Government Reports on Industrial Development)
- Industrial Policy Statement, 1980:
- “Promoted competition, modernization, and technological upgrades, liberalizing licensing and reaffirming the MRTP and FERA Acts.” (Source: Industrial Policy Documents)
- New Industrial Policy, 1991:
- “Aimed at liberalization, privatization, and globalization, increasing FDI ceilings and abolishing most industrial licensing.” (Source: Economic Reforms Reports)
- National Manufacturing Policy, 2011:
- “Launched to enhance the manufacturing sector’s contribution to GDP and create jobs.” (Source: Ministry of Commerce and Industry)
- Make in India Initiative, 2014:
- “Aimed at attracting investments and promoting manufacturing in India.” (Source: Government of India, Make in India Official Website)
- Future Considerations:
- “There is a growing need for new industrial policies to ensure inclusive and sustainable growth.” (Source: Economic Policy Analyses)
This roadmap and the relevant facts will help structure a coherent and comprehensive answer to the question.
Model Answer
Since gaining independence in 1947, India has implemented a series of industrial policies aimed at fostering economic growth, creating employment, and enhancing competitiveness. Here’s a brief overview of these policies:
These policies reflect India’s evolving approach to industrialization, balancing state control with market forces to foster economic development.