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FORMULATION OF NATIONAL INDUSTRY POLICY

Ministry of Industries & Production is in the process of formulating National Industry Policy to steer the industrial sectors of the economy. The broader framework of this National Policy has already been framed to provide guidelines and methodology for preparing sectoral and incentive policies. The umbrella document aims to provide a way for consolidation and coordination of various divergent policies. Fifteen (15) sectors have been identified for formulation of sector-wise policies, of which Steel, Aluminum, Copper, Engineering Goods (comprising Transformers, Cables, Meters, Motors, Pumps) Petrochemicals & Plastics, Domestic Fans, Surgical & Medical Devices, Mobile Devices, Automotive & EV sectors have been assigned to Engineering Development Board for formulating sector policies. Key feature to be addressed in these sector policies will include tariff roadmap, institutional support required, requirements for industrial zones, skill development & trainings, technology up-gradation requirements, innovation / R&D support requirements, environmental / other international compliances required, value chain analysis and interventions for ease of doing business.

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