Form or Structure of Industries, which is existing in a country, is known as Industrial Structure. Nature of Industrial Structure is not static. It is changeable from time to time. Present Structure of Indian Industries is different than earlier. The change in Industrial structure or Industrial development or growth during the planning era can be […]
Industrial Policy (1956) was reformed several times before the new Industrial policy 1991 was launched. This was a watershed moment for Indian Economy ending the license Raj and ushering India into liberalization, privatisation and globalization. Before we move ahead, it’s our duty to understand what happened in these four decades with respect to industries in […]
Industrial Licensing was also abolished for all except short list of 18 industries in New Industrial Policy 1991. This number was further pruned to six industries. Currently (2015), only five industries are under compulsory licensing mainly on account of environmental, safety and strategic considerations. They are: Distillation and brewing of alcoholic drinks Cigars and cigarettes […]
The Industrial Policy, 1956 was an elaborate document and was hailed as “Economic Constitution of India” It touched virtually all aspects of Industrial development. It established the public sector as epicentre of industrialization. Further, this policy must be analyzed in conjunction with IDA Act and License Raj and in light of the below statements. One […]
The Industrial Policy 1948 was a sincere depart from the British Era policy of lessez faire [free economy] model followed by British rulers. The British policy was that Government was ill-qualified to advance the industrial development and all such matters should be left to private enterprise. Our constitution was still being framed by the constituent […]
After having attained independence, the Government of India declared its first Industrial Policy on 6th April, 1948. The Industrial Policy 1948 was presented in the parliament by then Industry Minister Dr. Shyama Prasad Mukherjee. The main historical importance of this policy is that it ushered India in the system of Mixed Economy. After the independence, several […]
The British Government showed a marked antipathy and neglect towards Indian industries. The British Government in India followed the policy of free trade. It resulted in the demise of India’s world fame cottage and small scale industries as these could not stand in the competition of British industries. Tierney had explained Britain’s economic policy vis-a-vis […]
Industrial Policy is a formal declaration by the Government whereby it outlines its general policies for industries. Any industrial policy has broadly two parts. First part generally deals with the ideology of the current political dispensation, while other one provides a framework of certain rules / principles. The main objective of any industrial policy is […]