Commerce ministry seeks views on industrial policy

Commerce ministry seeks views on industrial policy

The commerce ministry has circulated a draft cabinet note seeking views of different departments on the proposed industrial policy that aims to promote emerging sectors, Union minister Suresh Prabhu said.”We have circulated (the draft policy) to all the ministries for their views,” the commerce and industry minister told .

He said that the policy aims at modernising the existing industries, reducing regulatory hurdles and encourage adoption of frontier technologies such as robotics and artificial intelligence.The proposed policy will completely revamp the Industrial Policy of 1991.After receiving comments from various ministries and departments, the commerce and industry ministry will finalise the note and move it to the Cabinet for the final approval.

The Department of Industrial Policy and Promotion (DIPP) in August last year floated a draft industrial policy with the aim to create jobs for the next two decades, promote foreign technology transfer and attract USD 100 billion FDI annually.

The Business Standard, New Delhi, 03rd March 2018

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