1. Industrial Policy of India

2. Meaning
Industrial policy is an instrument with the help of which the state participate in the growth process.
Industrial policy includes policy regarding labour & capital , cottage and small industries, foreign capital and protection etc.
It includes rules and regulations, principles and procedures to regulate the industrial undertakings of a country in the desired direction, so as to achieve the broader objectives like industrial development, economic development, balanced regional development, increase in employment etc.

3. Importance Limited capacity of private sector
Regulation of private sector
Regulation of foreign sector

4. Industrial Policy of 1948 Main features :-
Classification of industries:-
*Public sector
*Public cum private sector
*Controlled private sector
*Private & corporate sector
Cottage & small scale industries
Labour & capital relation
Attitude towards Foreign capital
Planning commission

5. Industrial Policy of 1956 Main Features:
Fair treatment to public sector
Cottage & small scale industries
Balanced regional growth
Technical & managerial personnel
Proper amenities for labourers
Proper management of public enterprises
Foreign capital
Flexible

6. New Industrial Policy of 1991
Main features
Contraction of Public sector
Delicensing
Abolition
Foreign capital
Technical experts
Facilities to labourers
Setting up foreign promotion board
Location of industries
Encouragement to industries
Freedom from monopolies act
Facilities of import

7. Implementation of Policy
Contraction of public sector
Expansion of large industries
Promotion of exports
Reduction in duties
Encouragement to foreign investment
Value added tax
Concessional loans for exporters
Increase in lending limits for industries
Disinvestment
Technology upgradation
Abolition of MRTP act
Setting up biotechnology cell

8. Evaluation Merits Shortcoming Increase in production
Promotes liberalization
Increase in efficiency of public sector
Increase in competition
Less economic burden
Increase in export
Increased in foreign investment
Reduction in role of public sector
Concentration of economic Power
Increase in regional imbalance
Ignores social objectives
Increase in unemployment
Adverse effect on small scale industries