Industry |

National Manufacturing Policy

The 1991 New Economic Policy set the Indian economy into a journey of market oriented exponential growth in which the private sector assumed a vital role.  However, in the two following decades, a dedicated policy for the needs of industries remained missing. Considering that the manufacturing sector constituted merely 14 to 16 per cent of India’s Gross Domestic Product (GDP) since liberalisation in 1991, a new policy was urgently needed (Department of Economic Affairs, 2012). The urgent need to boost...

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