Govt to formulate new industrial policy: MoS Commerce & Industry

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Government today said, it is in the process of formulating a new industrial policy.

In a written reply in the Lok Sabha, Minister of State for Commerce and Industry R Chaudhary said, the proposed vision is to create a globally competitive Indian industry driven by innovation, speed and ease, competitiveness, quality and sustainability.

He said, the underlying goals include advancing India in emerging technologies, increasing technological depth in Indian industry, scaling up small businesses, integrating into global and regional value chains and increasing employment avenues in industry.

Mr Chaudhary said, consultations in this regard are being held with stakeholders including industry bodies, academia, think tanks, state governments and concerned Ministries.

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