India will reportedly soon form a working group on the proposed new industrial policy aimed at promoting emerging sectors, reducing regulatory hurdles and turning the country into a manufacturing hub. The group will rework on fresh suggestions received on the draft policy prepared by the Department for Promotion of Industry and Internal Trade (DPIIT).
DPIIT, which had initiated the process of formulation of a new industrial policy in May 2017, had sent the draft policy earlier to the cabinet for approval.
The working group will have members from various central and state government departments and from industry chambers, including the Confederation of Indian Industry (CII), according to a news agency report.
This will be the third industrial policy after the first in 1956 and the second in 1991.Six thematic focus groups had been used to obtain inputs. The six areas are manufacturing and micro, small and medium enterprises (MSME); technology and innovation; ease of doing business; infrastructure, investment, trade and fiscal policy; and skills and employability for the future.
