All remaining industries fell in this category; the future development of these industries had been left to the initiative and enterprise of the private sector. All industrial undertakings are exempt from obtaining an industrial licence to manufacture, except for i industries reserved for the Public Sector, ii industries retained under compulsory licensing, iii items of manufacture reserved for the small scale sector and iv if the proposal attracts locational restriction. In The United States of America public policy is a result of a process of evaluation and consideration, usually by experts in the field or by persons with experience with the issues. Impervious graphite blocks and sheets. The industrial policy does not have a legal sanction and as such its violation cannot be challenged in the court.
They were to be developed by the private sector. The primary objective of this model was to make the economy of India the fastest developing economy in the globe with capabilities that help it match up with the biggest economies of the world. Drugs and Pharmaceuticals According to Drug Policy. To what extent, the blueprint outlined in this policy was different from British Era policy? Government is also committed to development and utilisation of indigenous capabilities in technology and manufacturing as well as its upgradation to world standards. The public sector may be invited to implement industrial policy. The attainment of technological dynamism and international competitiveness requires that enterprises must be enabled to swiftly respond to fast changing external conditions that have become characteristic of today's industrial world.
Basic and intermediate products required by chemical industries such as the manufacture of drugs, dye-stuffs and plastics. Though the British Government established Department of Commerce and Industry in 1905 but the activities pursued through this department favored industrial activity in England. Schedule C had all the industries left out of Schedules A and B. Industrial policies and economic policies were shaped by the British Government in favour of British interests. Another way of support is to provide subsidy, either on purchase, sale, or investment. In pursuit of the above objectives, Government have decided to take a series of initiatives in respect of the policies relating to the following areas: A.
Accordingly, the industries were divided into four broad categories: a Exclusive govt. As mentioned above, the Indian private enterprise was infant at that time; and they might be the first casualty if allowed to be full players in key sectors. This was the ground on which Planning constitution was later established for top down approach in economic development of the country. Industrial Policy — 1956 The Industrial Policy Resolution of 1956 was based upon the Mahalanobis Model of growth. An exhaustive analysis of industrial products was made to identify products which are capable of being produced in the small scale sector.
All the other industries not included in these two Schedules constituted the third category which was left open to the private sector. It is a strange phenomenon that despite curbs on the coming of foreign capital in the past, a huge amount of foreign investment was made in such industries as cars, soft drinks, potato chips, etc. However, it is feared that foreign investment will trickle down to this country despite liberalisation. This was the beginning of the License Raj. Nevertheless, public sector by this time had built strong industrial base on which other industries can thrive in future. No incentives were offered to Indian industries for their growth.
Government will fully protect the interests of labour, enhance their welfare and equip them in all respects to deal with the inevitability of technological change. To accelerate the rate of economic growth and to speed up industrialisation and, in particular, to develop heavy industries and machine making industries, to expand the public sector, and to build up a large and growing co-operative sector. Prepare a clause in the existing Industrial Policy of India to deal with the above stated problem. A beginning in this direction was made in 1991-92 themselves by diverting part of the equities of selected public sector enterprises. Zoning and Land Use Regulation and Environmental Legislation will continue to regulate industrial locations. Note — Effects of Liberalization on various aspects of Indian economy and Society will be discussed in next article, along with post 1991 and current Industrial policies.
Special legislation to protect cottage and household industries was also proposed to be introduced. Industrial Policy — 1948 2. Under this, as already explained, government attempts to promote particular industries in interest of consumers and employment. In 1948, immediately after Independence, Government introduced the Industrial Policy Resolution. Industrial processes and technologies aimed at optimum utilisation of energy or the exploitation of alternative sources of energy would be given special assistance, including finance on concessional terms.
Electronic aerospace and defence equipment; All types. Small Scale sector specific policies were made. Government will strengthen those public enterprises which fall in the reserved areas of operation or are in high priority areas or are generating good or reasonable profits. It was a massive airlift with planes flying into West Berlin constantly. Unsurprisingly, Industrial and economic growth remained dismal during this period.
This review will be in respect of industries based on low technology, small scale and non-strategic areas, inefficient and unproductive areas, areas with low or nil social considerations or public purpose, and areas where the private sector has developed sufficient expertise and resources. Schedule A consisting of 17 industries would be the exclusive responsibility of the State. Paper and pulp including paper products. The industrial policy 1948 was presented in the parliament by then industry minister dr. In addition, public enterprises have shown a very low rate of return on the capital invested. Workers' participation in management will be promoted. It stated that the Government would continue pursuing a policy of supporting such industries through tax concessions and subsidies.