Industrial indemnity is the regulate of government actions affecting companies in different productive sectors in a country (including service companies) and, more specifically, affecting their powerfulness to compete both domestically and abroad. The Industrial policy of whatever country reflects upon the outgrowth and development of that country and also throws exonerated on the role of large, medium and small scale industries.
The study Industrial policies are-
1. Industrial policy 1948- The feature of this policy was it original the importance of both private and public sector.
2. Industrial policy 1956- The objective of this policy was to accelerate the rate of economic growth and to speed up industrialization.
3. Industrial policy 1991- . The main vex of the policy was to release the economy from unnecessary bureaucratic control, change the economy and remove restrictions on foreign direct enthronement.
The youthful development in the policies force out be seen in, the development of sectors wish well IT, Science and technology, Research and development, Service sector etc. The investment in Research and Development (R&D) has increased from a paltry Rs. 20 crore in the First Five twelvemonth Plan to about Rs. 20,000 crore in the Eighth Five course Plan.
After 1991 the Indian Industrial sector has achieved marvelous be on which is clear from social and economic progress of India.
The development in the policy can also be seen with the liberalization in the foreign direct investment. Earlier there were rigid rules and tariffs that did non allow smooth FDI but now with the changes in the policies we can see development in FDI.
The positive impact of juvenile industrial policy was that helped in increase of production, competition. It helped in increase of exports and foreign investments.
Since 1991, industrial policy measures and procedural simplifications have been reviewed on an ongoing basis. Presently, there are only six industries...If you lack to get a full essay, order it on our website: Orderessay
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