Nifty99000 100%

Sensex99000 100%

Article rating: 4.2
Article rating: 5.0
Article rating: 5.0
Article rating: 4.8
Article rating: No rating
Article rating: 5.0
Article rating: 3.7
Article rating: 2.0
Article rating: 3.6
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.0
Article rating: No rating
Article rating: 5.0
Article rating: No rating


Proposed new industrial policy to be approved soon: Prabhu

Author: PTI/Friday, October 12, 2018/Categories: Government

Proposed new industrial policy to be approved soon: Prabhu

New Delhi - The new industrial policy, which aims at promoting manufacturing, attracting investments and creating jobs, is ready and will soon be approved by the Union Cabinet, Commerce and Industry Minister Suresh Prabhu said on Thursday.

He said the policy is in sync with the challenges and opportunities to be brought up by the 'fourth industrial revolution'.

"The new industrial policy is ready for a while. It has to be approved by the Prime Minister," Prabhu said at an event here.

With changing technologies in the manufacturing sector, the world is talking about the fourth industrial revolution. It includes artificial intelligence, robotics, internet of things, block chain and machine learning.

India too is gearing itself to use these modern technologies to boost its manufacturing sector and increase its share in the country's gross domestic product (GDP).

The proposed policy would look at ways to reduce regulatory hurdles and encourage adoption of frontier technologies such as robotics and artificial intelligence.

The Department of Industrial Policy and Promotion (DIPP), under the commerce and industry ministry, in August last year floated a draft industrial policy with an aim to create jobs for the next two decades, promote foreign technology transfer and attract USD 100 billion FDI annually.

The new policy will replace the industrial policy of 1991 which was prepared in the backdrop of balance of payment crisis.

The ministry is also considering to set up industrial health clinics to deal with sickness in the micro, small and medium enterprises (MSMEs) as part of the proposed policy.

Prabhu pointed out that the fourth industrial revolution is going to displace jobs so "we need to re-skill our workforce".

Speaking at the event, Niti Aayog CEO Amitabh Kant said that India need to make it's workforce multi skilled.

Print Rate this article:
No rating

Number of views (328)/Comments (0)

rajyashree guha


Other posts by PTI
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free