Question
What are the major objectives of new industrial policy of India 1991 ? Mention the measures initiated within this policy.
Solution
The major objectives of new industrial policy of India 1991 are:
(a) Liberalisation
(b) Privatisation
(c) Globalisation.
Within this policy, measures initiated are :
(1) abolition of industrial licensing,
(2) free entry to foreign technology,
(3) foreign investment policy,
(4) access to capital market,
(5) open trade,
(6) abolition of phased manufacturing programme, and
(7) liberalised industrial location programme.
