Indian Industrial Environment: Government Standards and Measures

The purpose of industrial policy is to evaluate the progress of the manufacturing sector, enhance economic growth, and develop the country by setting standards and measures.

The objectives of the industrial policy include maintaining steady growth in productivity, creating more employment opportunities, utilizing human resources better, accelerating the progress of the country, and matching international standards and competitiveness.

The characteristics of the industrial policy of India prior to 1991 included reservation of industries, dominance of the public sector, and manufacturing of a large number of items being reserved for the small scale sector.

<p>The public sector had dominance in most import industries and established a near monopoly in nine industries, as well as expanded its role further based on the Industrial Policy Resolutions of 1956 and 1958.</p> Signup and view all the answers

<p>Industrial policy aims to enhance economic growth by encouraging and improving the competitiveness and capabilities of various firms, thereby contributing to the progress of the country through different means.</p> Signup and view all the answers